Hanson & Doremus Investment Management Has $261,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Hanson & Doremus Investment Management lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,031 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Hanson & Doremus Investment Management’s holdings in Illinois Tool Works were worth $261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Illinois Tool Works by 2.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,266 shares of the industrial products company’s stock valued at $6,698,000 after buying an additional 596 shares during the period. EP Wealth Advisors LLC increased its position in Illinois Tool Works by 2.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 4,513 shares of the industrial products company’s stock valued at $1,069,000 after acquiring an additional 123 shares during the period. Truist Financial Corp raised its stake in shares of Illinois Tool Works by 2.4% during the second quarter. Truist Financial Corp now owns 67,363 shares of the industrial products company’s stock valued at $15,962,000 after acquiring an additional 1,583 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Illinois Tool Works by 7.6% during the second quarter. Cetera Investment Advisers now owns 60,619 shares of the industrial products company’s stock worth $14,364,000 after purchasing an additional 4,276 shares during the period. Finally, New Century Financial Group LLC bought a new stake in shares of Illinois Tool Works in the second quarter worth $269,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $256.59 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $75.77 billion, a P/E ratio of 22.20, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a fifty day moving average of $262.74 and a 200-day moving average of $256.86. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ITW shares. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Truist Financial raised their price objective 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. Jefferies Financial Group upped 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. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Two 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’s stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average 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.