Fidelis Capital Partners LLC Raises Position in Illinois Tool Works Inc. $ITW

Fidelis Capital Partners LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 88.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,822 shares of the industrial products company’s stock after buying an additional 3,198 shares during the period. Fidelis Capital Partners LLC’s holdings in Illinois Tool Works were worth $1,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC lifted its position in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after purchasing an additional 81 shares during the period. Sivia Capital Partners LLC boosted its holdings in Illinois Tool Works by 20.6% in the second quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 177 shares during the last quarter. GC Wealth Management RIA LLC bought a new stake in Illinois Tool Works in the 2nd quarter worth approximately $487,000. Finally, Venture Visionary Partners LLC raised its stake in Illinois Tool Works by 3.8% during the 2nd quarter. Venture Visionary Partners LLC now owns 2,191 shares of the industrial products company’s stock valued at $542,000 after buying an additional 80 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wolfe Research lifted their price objective on Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a report on Thursday, January 15th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday, October 27th. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 7th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Finally, Barclays upped their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $261.08.

Illinois Tool Works Trading Down 0.1%

Illinois Tool Works stock opened at $258.47 on Thursday. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The firm has a market capitalization of $74.98 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 13.85 and a beta of 1.15. The firm has a 50 day moving average of $252.62 and a 200 day moving average of $254.86. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.