Tyche Wealth Partners LLC Acquires 3,177 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Tyche Wealth Partners LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 41.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,782 shares of the industrial products company’s stock after acquiring an additional 3,177 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Illinois Tool Works were worth $2,734,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of 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 worth $358,321,000 after purchasing an additional 398,676 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of 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 worth $847,610,000 after purchasing an additional 322,192 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Illinois Tool Works by 318.9% in 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 worth $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of 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 worth $48,945,000 after purchasing an additional 165,607 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.1 %

Shares of NYSE:ITW opened at $254.40 on Thursday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market capitalization of $75.12 billion, a P/E ratio of 22.01, a P/E/G ratio of 3.61 and a beta of 1.11. The stock has a 50 day moving average price of $261.20 and a 200-day moving average price of $257.14. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. 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. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Citigroup dropped their target price 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, Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $272.67.

Illinois Tool Works 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.