Cerro Pacific Wealth Advisors LLC Cuts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Cerro Pacific Wealth Advisors LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,112 shares of the industrial products company’s stock after selling 115 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Illinois Tool Works were worth $1,864,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth approximately $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ITW shares. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays dropped their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. 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 report on Tuesday, January 7th. Finally, Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $259.68 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a 50-day simple moving average of $263.43 and a 200-day simple moving average of $256.09. The stock has a market capitalization of $76.68 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 3.60 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its 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 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 the consensus estimate of $4.02 billion. During the same period last year, the business posted $2.55 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Illinois Tool Works Inc. will post 10.13 EPS 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.