Harvey Investment Co. LLC Has $8.87 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Harvey Investment Co. LLC cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,979 shares of the industrial products company’s stock after selling 290 shares during the period. Illinois Tool Works accounts for approximately 1.0% of Harvey Investment Co. LLC’s portfolio, making the stock its 27th biggest holding. Harvey Investment Co. LLC’s holdings in Illinois Tool Works were worth $8,869,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Illinois Tool Works by 1,060.0% in 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 during the period. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter valued at about $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ITW shares. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial raised 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. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two research 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. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $271.33.

Illinois Tool Works Trading Up 0.2 %

NYSE:ITW opened at $254.86 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market capitalization of $75.26 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 3.61 and a beta of 1.11. The business’s 50-day moving average price is $260.34 and its two-hundred day moving average price is $257.11.

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, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

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.