Daymark Wealth Partners LLC Trims Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Daymark Wealth Partners LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,423 shares of the industrial products company’s stock after selling 322 shares during the period. Daymark Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of ITW. Davis Capital Management lifted its holdings in shares of Illinois Tool Works by 198.4% in the 4th quarter. Davis Capital Management now owns 746 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 496 shares during the last quarter. Simon Quick Advisors LLC grew its position in shares of Illinois Tool Works by 3.2% during the fourth quarter. Simon Quick Advisors LLC now owns 2,247 shares of the industrial products company’s stock worth $570,000 after buying an additional 70 shares in the last quarter. Beaumont Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $425,000. Perfromance Wealth Partners LLC increased its holdings in Illinois Tool Works by 8.8% in the fourth quarter. Perfromance Wealth Partners LLC now owns 2,841 shares of the industrial products company’s stock valued at $720,000 after buying an additional 229 shares during the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Illinois Tool Works by 15.7% during the 4th quarter. Atomi Financial Group Inc. now owns 4,618 shares of the industrial products company’s stock worth $1,171,000 after acquiring an additional 625 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.9 %

Shares of Illinois Tool Works stock opened at $259.02 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business has a fifty day simple moving average of $263.71 and a 200-day simple moving average of $256.07. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market cap of $76.49 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITW. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their target price 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. Barclays lowered their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $270.11.

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.