Capital Investment Services of America Inc. Decreases Stake in Illinois Tool Works Inc. (NYSE:ITW)

Capital Investment Services of America Inc. lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,258 shares of the industrial products company’s stock after selling 4,045 shares during the period. Illinois Tool Works makes up about 1.8% of Capital Investment Services of America Inc.’s holdings, making the stock its 26th biggest position. Capital Investment Services of America Inc.’s holdings in Illinois Tool Works were worth $18,575,000 as of its most recent SEC filing.

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

Illinois Tool Works Trading Down 0.1 %

NYSE ITW opened at $254.40 on Thursday. The firm has a market cap of $75.12 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.61 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. The company has a 50 day moving average price of $261.20 and a 200 day moving average price of $257.14.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. 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. Wells Fargo & Company dropped their price target 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, JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $272.67.

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.