Coerente Capital Management Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Coerente Capital Management lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,013 shares of the industrial products company’s stock after acquiring an additional 118 shares during the quarter. Illinois Tool Works accounts for about 4.8% of Coerente Capital Management’s investment portfolio, making the stock its 7th largest holding. Coerente Capital Management’s holdings in Illinois Tool Works were worth $25,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after buying an additional 149,272 shares during the period. Geode Capital Management LLC lifted its holdings in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the period. Fisher Asset Management LLC boosted its position in Illinois Tool Works by 4.2% in the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after purchasing an additional 135,023 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after purchasing an additional 32,656 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Illinois Tool Works by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after purchasing an additional 17,139 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $259.16 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. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business has a 50-day moving average price of $262.05 and a 200-day moving average price of $256.96. The firm has a market cap of $76.53 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11.

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, topping 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the company posted $2.55 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITW shares. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Citigroup cut their price target 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. Finally, 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 research note on Thursday, October 31st. Two 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus 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.