Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,355 shares of the industrial products company’s stock after purchasing an additional 128 shares during the period. Essex Financial Services Inc.’s holdings in Illinois Tool Works were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sapient Capital LLC grew its stake in Illinois Tool Works by 1.1% during the fourth quarter. Sapient Capital LLC now owns 5,589 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 60 shares during the period. FSR Wealth Management Ltd. purchased a new stake in Illinois Tool Works during the 4th quarter worth $375,000. Wingate Wealth Advisors Inc. acquired a new stake in Illinois Tool Works in the 4th quarter valued at $76,000. Angeles Wealth Management LLC raised its position in Illinois Tool Works by 32.3% in the fourth quarter. Angeles Wealth Management LLC now owns 1,529 shares of the industrial products company’s stock valued at $388,000 after purchasing an additional 373 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $80,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ITW. Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have assigned 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, the stock has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $256.12 on Thursday. The firm has a market cap of $75.63 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The firm’s 50-day simple moving average is $259.14 and its 200-day simple moving average is $257.58. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal 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.