Fishman Jay A Ltd. MI Trims Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Fishman Jay A Ltd. MI reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,050 shares of the industrial products company’s stock after selling 50 shares during the period. Fishman Jay A Ltd. MI’s holdings in Illinois Tool Works were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in shares of Illinois Tool Works by 1,542.1% in the third quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 5,860 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after buying an additional 43 shares during the period. Sivia Capital Partners LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth $204,000. Harrington Investments INC raised its holdings in Illinois Tool Works by 0.9% during the third quarter. Harrington Investments INC now owns 11,518 shares of the industrial products company’s stock valued at $3,019,000 after acquiring an additional 100 shares during the period. Finally, Occidental Asset Management LLC lifted its position in shares of Illinois Tool Works by 10.8% in the third quarter. Occidental Asset Management LLC now owns 12,759 shares of the industrial products company’s stock valued at $3,344,000 after acquiring an additional 1,245 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group increased 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. 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 report on Thursday, December 19th. Barclays dropped their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Wells Fargo & Company decreased 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, February 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued 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 $271.00.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW opened at $258.65 on Wednesday. The firm has a fifty day simple moving average of $259.49 and a two-hundred day simple moving average of $257.50. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $76.38 billion, a P/E ratio of 22.07, a PEG ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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 return on equity of 95.39% and a net margin of 21.94%. On average, analysts expect that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal year.

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.