Stratos Investment Management LLC Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Stratos Investment Management LLC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,451 shares of the industrial products company’s stock after selling 333 shares during the quarter. Stratos Investment Management LLC’s holdings in Illinois Tool Works were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ITW. State Street Corp boosted its stake in Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC grew its stake in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after buying an additional 135,023 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Illinois Tool Works by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares during the period. Finally, Stifel Financial Corp lifted its stake in Illinois Tool Works by 1.0% in the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after buying an additional 17,139 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on ITW shares. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus dropped their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Citigroup decreased their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $272.67.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE:ITW opened at $254.70 on Wednesday. The stock has a 50-day simple moving average of $261.64 and a 200-day simple moving average of $257.06. The stock has a market capitalization of $75.21 billion, a P/E ratio of 22.03, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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.