Slow Capital Inc. Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Slow Capital Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,487 shares of the industrial products company’s stock after acquiring an additional 1,413 shares during the period. Slow Capital Inc.’s holdings in Illinois Tool Works were worth $3,431,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Parsons Capital Management Inc. RI boosted its holdings in shares of Illinois Tool Works by 1.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 7,444 shares of the industrial products company’s stock valued at $1,888,000 after purchasing an additional 73 shares during the period. United Asset Strategies Inc. lifted its holdings in shares of Illinois Tool Works by 4.7% in the 4th quarter. United Asset Strategies Inc. now owns 9,624 shares of the industrial products company’s stock worth $2,440,000 after buying an additional 434 shares during the period. Apexium Financial LP bought a new position in shares of Illinois Tool Works during the 4th quarter worth $216,000. Capital Asset Advisory Services LLC increased its stake in shares of Illinois Tool Works by 15.6% during the fourth quarter. Capital Asset Advisory Services LLC now owns 1,134 shares of the industrial products company’s stock valued at $286,000 after buying an additional 153 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Illinois Tool Works by 11.7% in the fourth quarter. Blue Trust Inc. now owns 9,679 shares of the industrial products company’s stock valued at $2,537,000 after acquiring an additional 1,013 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 1.7 %

NYSE:ITW opened at $264.37 on Tuesday. The firm has a fifty day simple moving average of $263.01 and a 200-day simple moving average of $256.60. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $78.07 billion, a P/E ratio of 22.87, a PEG 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, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on ITW shares. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup cut their price objective 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on 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. Finally, Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $269.89.

Illinois Tool Works 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.