CENTRAL TRUST Co Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

CENTRAL TRUST Co decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,268 shares of the industrial products company’s stock after selling 390 shares during the quarter. CENTRAL TRUST Co’s holdings in Illinois Tool Works were worth $1,843,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its stake in 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 worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.4 %

NYSE ITW opened at $259.16 on Monday. The firm’s fifty day simple moving average is $262.05 and its 200-day simple moving average is $256.99. 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 company has a market capitalization of $76.53 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11.

Wall Street Analyst Weigh In

ITW has been the subject of several research 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 research report on Wednesday, January 8th. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial boosted 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. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $269.89.

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.