Financial Advocates Investment Management Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Financial Advocates Investment Management boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,186 shares of the industrial products company’s stock after acquiring an additional 135 shares during the quarter. Financial Advocates Investment Management’s holdings in Illinois Tool Works were worth $1,061,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ITW. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup decreased their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Performance

ITW opened at $255.77 on Friday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market cap of $75.53 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.61 and a beta of 1.11. The stock’s 50 day simple moving average is $260.34 and its 200 day simple moving average is $257.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.14 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.