Symphony Financial Ltd. Co. Sells 2,609 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Symphony Financial Ltd. Co. lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 43.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,362 shares of the industrial products company’s stock after selling 2,609 shares during the period. Symphony Financial Ltd. Co.’s holdings in Illinois Tool Works were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ITW. Pensionfund Sabic grew its holdings in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc bought a new stake in Illinois Tool Works in the fourth quarter worth $1,729,000. Czech National Bank raised its stake in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Illinois Tool Works during the third quarter valued at $1,179,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.4 %

ITW stock opened at $259.16 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm’s 50-day moving average is $262.05 and its 200 day moving average is $256.96. The company has a market capitalization of $76.53 billion, a PE ratio of 22.42, a P/E/G 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 (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business 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 company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ITW shares. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays dropped their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their target price on shares of 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 assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $269.89.

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.