Chronos Wealth Management LLC Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Chronos Wealth Management LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,449 shares of the industrial products company’s stock after selling 141 shares during the period. Illinois Tool Works comprises 2.8% of Chronos Wealth Management LLC’s portfolio, making the stock its 16th largest position. Chronos Wealth Management LLC’s holdings in Illinois Tool Works were worth $5,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pensionfund Sabic raised its holdings in 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 acquiring an additional 2,000 shares in the last quarter. Franklin Resources Inc. raised its stake in Illinois Tool Works by 41.0% during 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 buying an additional 398,676 shares in the last quarter. Clark & Stuart Inc bought a new stake in Illinois Tool Works during the fourth quarter valued at $1,729,000. Czech National Bank lifted its holdings in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Illinois Tool Works during the 3rd quarter worth $1,179,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.3 %

Shares of Illinois Tool Works stock opened at $255.77 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $75.53 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The stock’s fifty day moving average is $260.34 and its 200-day moving average is $257.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Robert W. Baird raised their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $271.00.

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.