Daymark Wealth Partners LLC Sells 322 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Daymark Wealth Partners LLC lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,423 shares of the industrial products company’s stock after selling 322 shares during the period. Daymark Wealth Partners LLC’s holdings in Illinois Tool Works were worth $1,375,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Pensionfund Sabic boosted its stake in shares of Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $1,729,000. Czech National Bank lifted its stake in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works in the third quarter worth $1,179,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

NYSE ITW opened at $259.02 on Thursday. The firm’s 50-day simple moving average is $263.71 and its two-hundred day simple moving average is $256.07. The company has a market cap of $76.49 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly 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. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm 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 posted $2.55 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on 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. Truist Financial boosted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. 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. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average 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.