Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,434 shares of the industrial products company’s stock after selling 1,074 shares during the quarter. Illinois Tool Works comprises 1.4% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 18th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Illinois Tool Works were worth $33,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC boosted its position in shares of Illinois Tool Works by 32.8% during the 2nd quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock worth $827,000 after purchasing an additional 862 shares during the period. Sei Investments Co. boosted its position in shares of Illinois Tool Works by 21.3% during the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after buying an additional 12,496 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Illinois Tool Works by 71.7% in the second quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock valued at $8,267,000 after buying an additional 14,564 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Illinois Tool Works by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 662 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Illinois Tool Works by 165.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 6,843 shares of the industrial products company’s stock valued at $1,622,000 after acquiring an additional 4,263 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.9 %

Illinois Tool Works stock opened at $259.02 on Thursday. The stock’s fifty day moving average is $263.43 and its two-hundred day moving average is $256.09. The stock has a market cap of $76.49 billion, a PE ratio of 22.41, a P/E/G ratio of 3.63 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ITW. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $270.11.

Illinois Tool Works Company 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.