Wesbanco Bank Inc. Sells 287 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wesbanco Bank Inc. lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,733 shares of the industrial products company’s stock after selling 287 shares during the quarter. Wesbanco Bank Inc.’s holdings in Illinois Tool Works were worth $1,454,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ITW. Janney Montgomery Scott LLC raised its stake in Illinois Tool Works by 4.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 220,917 shares of the industrial products company’s stock valued at $56,016,000 after purchasing an additional 8,906 shares in the last quarter. Davis Capital Management raised its position in shares of Illinois Tool Works by 198.4% during the 4th quarter. Davis Capital Management now owns 746 shares of the industrial products company’s stock valued at $189,000 after buying an additional 496 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Illinois Tool Works by 3.2% in the 4th quarter. Simon Quick Advisors LLC now owns 2,247 shares of the industrial products company’s stock valued at $570,000 after acquiring an additional 70 shares during the last quarter. Beaumont Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the 4th quarter valued at about $425,000. Finally, Perfromance Wealth Partners LLC grew its position 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 worth $720,000 after acquiring an additional 229 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.2 %

Shares of ITW opened at $259.68 on Friday. The firm has a market capitalization of $76.68 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.63 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 1-year low of $232.77 and a 1-year high of $279.13. The company has a 50-day moving average of $263.43 and a 200 day moving average of $256.09.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. On average, research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITW shares. Truist Financial raised their price objective 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. Citigroup lowered their price target 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. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $270.11.

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.