Wingate Wealth Advisors Inc. Purchases New Position in Illinois Tool Works Inc. (NYSE:ITW)

Wingate Wealth Advisors Inc. bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 300 shares of the industrial products company’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $28,000. True Wealth Design LLC boosted its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the third quarter worth about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $257.56 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. The firm has a market cap of $76.06 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The company’s 50 day simple moving average is $259.91 and its 200-day simple moving average is $257.40. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ITW. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays cut their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial raised their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $271.00.

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.