Capital Asset Advisory Services LLC Has $286,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Capital Asset Advisory Services LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the industrial products company’s stock after acquiring an additional 153 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Illinois Tool Works were worth $286,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in Illinois Tool Works by 41.0% in the 3rd 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 during the period. International Assets Investment Management LLC grew its position in shares of Illinois Tool Works by 26,088.4% in the third 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 during the last quarter. National Bank of Canada FI lifted its holdings in 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 boosted its stake in Illinois Tool Works by 2.7% in 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 purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Illinois Tool Works by 787.3% in the 3rd 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 in the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITW. Citigroup reduced their target price 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. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Stifel Nicolaus cut their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. 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 Trading Up 1.7 %

Shares of ITW stock opened at $264.37 on Tuesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock’s fifty day moving average price is $263.01 and its two-hundred day moving average price is $256.60. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $78.07 billion, a PE ratio of 22.87, a P/E/G ratio of 3.60 and a beta of 1.11.

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

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.