Slow Capital Inc. Has $3.43 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Slow Capital Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,487 shares of the industrial products company's stock after purchasing an additional 1,413 shares during the period. Slow Capital Inc.'s holdings in Illinois Tool Works were worth $3,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parsons Capital Management Inc. RI increased its stake in shares of Illinois Tool Works by 1.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 7,444 shares of the industrial products company's stock worth $1,888,000 after purchasing an additional 73 shares in the last quarter. United Asset Strategies Inc. lifted its position in Illinois Tool Works by 4.7% during the fourth quarter. United Asset Strategies Inc. now owns 9,624 shares of the industrial products company's stock valued at $2,440,000 after purchasing an additional 434 shares during the last quarter. Apexium Financial LP bought a new position in Illinois Tool Works during the fourth quarter valued at $216,000. Capital Asset Advisory Services LLC lifted its holdings in shares of Illinois Tool Works by 15.6% in the 4th quarter. Capital Asset Advisory Services LLC now owns 1,134 shares of the industrial products company's stock worth $286,000 after acquiring an additional 153 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Illinois Tool Works by 11.7% in the 4th quarter. Blue Trust Inc. now owns 9,679 shares of the industrial products company's stock worth $2,537,000 after acquiring an additional 1,013 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock traded down $5.55 during midday trading on Tuesday, reaching $258.87. The company's stock had a trading volume of 905,311 shares, compared to its average volume of 865,165. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock's 50 day simple moving average is $262.89 and its 200 day simple moving average is $256.77. The firm has a market capitalization of $76.44 billion, a PE ratio of 22.39, a P/E/G ratio of 3.60 and a beta of 1.11.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITW shares. 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 report on Friday, December 6th. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.