Quotient Wealth Partners LLC Increases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Quotient Wealth Partners LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,142 shares of the industrial products company’s stock after purchasing an additional 101 shares during the period. Quotient Wealth Partners LLC’s holdings in Illinois Tool Works were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC grew its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the third quarter worth $32,000. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter worth about $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

ITW stock opened at $255.77 on Monday. The firm has a 50-day simple moving average of $259.91 and a two-hundred day simple moving average of $257.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market cap of $75.53 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Citigroup lowered their price objective 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $271.00.

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.