TCI Wealth Advisors Inc. Cuts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

TCI Wealth Advisors Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,176 shares of the industrial products company’s stock after selling 61 shares during the period. TCI Wealth Advisors Inc.’s holdings in Illinois Tool Works were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in shares of Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted its stake in Illinois Tool Works by 2.7% during the 3rd 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 increased its stake in shares of 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 acquiring an additional 135,023 shares during the period. 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 worth $484,685,000 after purchasing an additional 32,656 shares during the period. Finally, Stifel Financial Corp boosted its stake 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 worth $460,533,000 after acquiring an additional 17,139 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.4 %

Shares of ITW opened at $259.88 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average price of $262.35 and a 200 day moving average price of $256.88. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $76.74 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 EPS. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITW. Stifel Nicolaus reduced their target price 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. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup reduced 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 report on Monday, January 13th. Finally, Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. 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 company. Based on data from MarketBeat.com, the company currently 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.