Invesco LLC Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Invesco LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,993 shares of the industrial products company’s stock after purchasing an additional 263 shares during the period. Invesco LLC’s holdings in Illinois Tool Works were worth $759,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. True Wealth Design LLC grew its position 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 valued at $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the third quarter worth $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the third quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research analyst reports. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Citigroup cut their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Barclays reduced their target price on 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, Stifel Nicolaus dropped their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Trading Down 0.1 %

ITW traded down $0.21 on Wednesday, hitting $258.50. 55,418 shares of the company were exchanged, compared to its average volume of 818,389. 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 12 month low of $232.77 and a 12 month high of $279.13. The firm has a fifty day simple moving average of $262.74 and a two-hundred day simple moving average of $256.86. The stock has a market capitalization of $76.33 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate 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 net margin of 21.66% and a return on equity of 97.06%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 earnings per share. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Company 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.