Costello Asset Management INC Trims Stake in Illinois Tool Works Inc. (NYSE:ITW)

Costello Asset Management INC cut its stake in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300 shares of the industrial products company’s stock after selling 50 shares during the period. Costello Asset Management INC’s holdings in Illinois Tool Works were worth $76,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ITW. Evermay Wealth Management LLC increased its stake in shares of Illinois Tool Works by 4.1% in the 4th quarter. Evermay Wealth Management LLC now owns 1,283 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 50 shares in the last quarter. Concord Wealth Partners grew its holdings in Illinois Tool Works by 47.7% in the fourth quarter. Concord Wealth Partners now owns 2,679 shares of the industrial products company’s stock worth $679,000 after purchasing an additional 865 shares during the period. Concord Asset Management LLC VA increased its stake in shares of Illinois Tool Works by 44.7% during the fourth quarter. Concord Asset Management LLC VA now owns 2,558 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 790 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Illinois Tool Works by 6.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the industrial products company’s stock valued at $645,000 after buying an additional 164 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its stake in Illinois Tool Works by 1.8% during the fourth quarter. Waldron Private Wealth LLC now owns 8,552 shares of the industrial products company’s stock valued at $2,168,000 after buying an additional 149 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

ITW stock opened at $259.16 on Friday. The company has a market cap of $76.53 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock’s fifty day moving average price is $262.05 and its 200-day moving average price is $256.96.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analysts Set New Price Targets

ITW has been the topic of a number of recent research reports. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Truist Financial raised their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $269.89.

Check Out Our Latest Report on ITW

Illinois Tool Works Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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