Janney Montgomery Scott LLC Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Janney Montgomery Scott LLC raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,917 shares of the industrial products company’s stock after purchasing an additional 8,906 shares during the period. Janney Montgomery Scott LLC’s holdings in Illinois Tool Works were worth $56,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.2 %

Illinois Tool Works stock opened at $259.68 on Friday. 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 firm has a market cap of $76.68 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.63 and a beta of 1.11. The business has a fifty day moving average of $263.43 and a two-hundred day moving average of $256.09. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data 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. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. On average, analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company reduced their price target on shares of 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. Barclays dropped their target price 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, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.