1,248 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Ibex Wealth Advisors

Ibex Wealth Advisors bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,248 shares of the industrial products company's stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of ITW. Pensionfund Sabic grew its stake in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock valued at $1,876,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after acquiring an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $1,729,000. Czech National Bank boosted its stake in shares of Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock valued at $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth $1,179,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Trading Up 1.3 %

Illinois Tool Works stock traded up $3.32 during midday trading on Thursday, reaching $259.70. The stock had a trading volume of 280,237 shares, compared to its average volume of 830,842. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market cap of $76.69 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.60 and a beta of 1.11. The firm's fifty day simple moving average is $262.55 and its two-hundred day simple moving average is $256.86.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business earned $2.55 EPS. The business's revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITW has been the topic of several analyst reports. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Truist Financial upped their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. Finally, Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and an average price target of $269.89.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.