Dakota Wealth Management Reduces Position in Illinois Tool Works Inc. (NYSE:ITW)

Dakota Wealth Management reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,900 shares of the industrial products company’s stock after selling 118 shares during the quarter. Dakota Wealth Management’s holdings in Illinois Tool Works were worth $989,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the third 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 purchased a new stake in shares of Illinois Tool Works during the third quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the 3rd quarter worth about $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.0 %

NYSE:ITW opened at $259.83 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. The stock has a market capitalization of $76.73 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. The company’s 50-day simple moving average is $263.22 and its 200-day simple moving average is $256.12. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research note on Friday. Robert W. Baird raised their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group raised their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, 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 report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price 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.