Andina Capital Management LLC Trims Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Andina Capital Management LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 864 shares of the industrial products company’s stock after selling 91 shares during the quarter. Andina Capital Management LLC’s holdings in Illinois Tool Works were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.0 %

Shares of Illinois Tool Works stock opened at $259.83 on Friday. 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 cap of $76.73 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The business has a 50-day moving average price of $263.01 and a 200 day moving average price of $256.30.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective 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. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company 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 assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $269.89.

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.