Milestone Asset Management LLC Makes New $941,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

Milestone Asset Management LLC purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,711 shares of the industrial products company's stock, valued at approximately $941,000.

A number of other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Illinois Tool Works by 2.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,266 shares of the industrial products company's stock worth $6,698,000 after buying an additional 596 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 4,513 shares of the industrial products company's stock valued at $1,069,000 after purchasing an additional 123 shares in the last quarter. Truist Financial Corp boosted its position in shares of Illinois Tool Works by 2.4% in the second quarter. Truist Financial Corp now owns 67,363 shares of the industrial products company's stock worth $15,962,000 after buying an additional 1,583 shares during the period. Cetera Investment Advisers grew its holdings in shares of Illinois Tool Works by 7.6% during the second quarter. Cetera Investment Advisers now owns 60,619 shares of the industrial products company's stock valued at $14,364,000 after buying an additional 4,276 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new position in Illinois Tool Works during the second quarter valued at $269,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITW. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Jefferies Financial Group upped 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 note on Friday, December 6th. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $269.89.

Illinois Tool Works Stock Up 1.2 %

Illinois Tool Works stock traded up $3.03 during midday trading on Thursday, reaching $259.41. The stock had a trading volume of 387,889 shares, compared to its average volume of 836,484. The stock has a market capitalization of $76.60 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The firm's fifty day simple moving average is $262.55 and its 200-day simple moving average is $256.86. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

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 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Company 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.