Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 58.6% during the second quarter, HoldingsChannel reports. The fund owned 435 shares of the industrial products company’s stock after selling 616 shares during the period. Park Place Capital Corp’s holdings in Illinois Tool Works were worth $103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Tokio Marine Asset Management Co. Ltd. boosted its position in Illinois Tool Works by 1.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares in the last quarter. PEAK6 Investments LLC boosted its position in Illinois Tool Works by 17.5% during the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Illinois Tool Works during the first quarter worth $1,147,000. Norden Group LLC boosted its position in Illinois Tool Works by 1,889.1% during the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after purchasing an additional 25,144 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Illinois Tool Works by 6.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after purchasing an additional 12,065 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ITW shares. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Truist Financial reduced their price objective on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group reduced their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Barclays reduced their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $250.75.

Illinois Tool Works Trading Up 0.7 %

Illinois Tool Works stock traded up $1.59 during trading on Friday, hitting $243.85. The company’s stock had a trading volume of 1,281,644 shares, compared to its average volume of 1,134,753. The stock has a market capitalization of $72.76 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.80 and a beta of 1.10. The stock’s fifty day moving average is $240.94 and its 200 day moving average is $251.05. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.41 earnings per share. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the purchase, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by insiders.

About Illinois Tool Works

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.