Legacy Trust Sells 85 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Legacy Trust decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,234 shares of the industrial products company’s stock after selling 85 shares during the quarter. Legacy Trust’s holdings in Illinois Tool Works were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. Nikulski Financial Inc. raised its stake in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp raised its position in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 41 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.8 %

ITW opened at $256.59 on Thursday. The firm has a market capitalization of $75.77 billion, a PE ratio of 22.20, a P/E/G ratio of 3.60 and a beta of 1.11. 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 Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company’s 50-day moving average is $262.74 and its 200 day moving average is $256.86.

Illinois Tool Works (NYSE:ITW) last posted its earnings results 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 return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the company earned $2.55 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITW has been the topic of several recent analyst reports. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Two investment 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 stock currently has a consensus rating of “Hold” and an average price target of $269.89.

About Illinois Tool Works

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.