Wilmington Savings Fund Society FSB Sells 4,789 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Wilmington Savings Fund Society FSB lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,428 shares of the industrial products company’s stock after selling 4,789 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Illinois Tool Works were worth $4,673,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CWM LLC lifted its stake in Illinois Tool Works by 6.9% during the 3rd quarter. CWM LLC now owns 18,955 shares of the industrial products company’s stock valued at $4,968,000 after acquiring an additional 1,231 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Illinois Tool Works by 3.0% during the third quarter. Wedmont Private Capital now owns 2,677 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 77 shares in the last quarter. Quotient Wealth Partners LLC grew its position in Illinois Tool Works by 5.2% in the 3rd quarter. Quotient Wealth Partners LLC now owns 1,041 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 51 shares in the last quarter. LVW Advisors LLC increased its stake in Illinois Tool Works by 15.3% in the 3rd quarter. LVW Advisors LLC now owns 1,498 shares of the industrial products company’s stock valued at $393,000 after buying an additional 199 shares during the last quarter. Finally, Fermata Advisors LLC boosted its stake in shares of Illinois Tool Works by 14.4% in the 3rd quarter. Fermata Advisors LLC now owns 1,137 shares of the industrial products company’s stock worth $298,000 after buying an additional 143 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Truist Financial raised their price objective 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. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $255.77 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. 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 capitalization of $75.53 billion, a P/E ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11. The business has a fifty day moving average price of $259.91 and a 200-day moving average price of $257.18.

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 (EPS) 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%. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current 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.