Mutual Advisors LLC Sells 932 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mutual Advisors LLC trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 32.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,985 shares of the industrial products company’s stock after selling 932 shares during the period. Mutual Advisors LLC’s holdings in Illinois Tool Works were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp lifted its position in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC increased its stake in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after acquiring an additional 135,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of Illinois Tool Works by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after purchasing an additional 17,139 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 1.7 %

ITW opened at $264.37 on Tuesday. The stock has a market capitalization of $78.07 billion, a P/E ratio of 22.87, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm’s fifty day simple moving average is $263.01 and its 200 day simple moving average is $256.60.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 earnings per share. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a report on Friday. Robert W. Baird raised their price objective on shares of 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 boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. 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.