Aljian Capital Management LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Aljian Capital Management LLC increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 169.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,890 shares of the industrial products company’s stock after purchasing an additional 6,851 shares during the period. Illinois Tool Works accounts for about 0.6% of Aljian Capital Management LLC’s holdings, making the stock its 23rd biggest position. Aljian Capital Management LLC’s holdings in Illinois Tool Works were worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position 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 acquiring an additional 398,676 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after buying an additional 165,607 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup lowered 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, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Price Performance

ITW opened at $256.12 on Thursday. The company has a 50 day moving average of $258.74 and a two-hundred day moving average of $257.57. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market cap of $75.63 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

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.