Exchange Traded Concepts LLC Acquires 3,605 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Exchange Traded Concepts LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 57.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,845 shares of the industrial products company’s stock after buying an additional 3,605 shares during the period. Exchange Traded Concepts LLC’s holdings in Illinois Tool Works were worth $2,496,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nikulski Financial Inc. raised its position in shares of Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp grew its stake in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Harbour Investments Inc. raised its holdings in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after buying an additional 43 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ITW. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday. Barclays reduced their target price on 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. 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. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $259.83 on Friday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The business’s 50 day moving average price is $263.01 and its 200 day moving average price is $256.30. 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 (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

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.