Beaumont Financial Advisors LLC Invests $425,000 in Illinois Tool Works Inc. (NYSE:ITW)

Beaumont Financial Advisors LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,677 shares of the industrial products company’s stock, valued at approximately $425,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AE Wealth Management LLC increased its holdings in Illinois Tool Works by 32.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock valued at $827,000 after purchasing an additional 862 shares in the last quarter. Sei Investments Co. boosted its position in shares of Illinois Tool Works by 21.3% in the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after buying an additional 12,496 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Illinois Tool Works by 71.7% in the second quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after buying an additional 14,564 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Illinois Tool Works by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 662 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Illinois Tool Works by 165.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 6,843 shares of the industrial products company’s stock worth $1,622,000 after acquiring an additional 4,263 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ITW. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Robert W. Baird upped 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 report on Thursday, October 31st. Barclays dropped their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Citigroup reduced their price target 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. Finally, Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $259.02 on Thursday. 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 Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a fifty day moving average price of $263.71 and a two-hundred day moving average price of $256.07. The company has a market cap of $76.49 billion, a PE ratio of 22.41, a P/E/G ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current 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.