Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,529 shares of the industrial products company’s stock after acquiring an additional 246 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Illinois Tool Works were worth $9,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Dynamic Advisor Solutions LLC grew its position in shares of Illinois Tool Works by 2.0% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,552 shares of the industrial products company’s stock valued at $1,193,000 after purchasing an additional 88 shares during the last quarter. CWM LLC raised its position in shares of Illinois Tool Works by 6.9% during the 3rd quarter. CWM LLC now owns 18,955 shares of the industrial products company’s stock worth $4,968,000 after purchasing an additional 1,231 shares during the last quarter. Wedmont Private Capital grew its holdings in Illinois Tool Works by 3.0% during the 3rd quarter. Wedmont Private Capital now owns 2,677 shares of the industrial products company’s stock valued at $685,000 after buying an additional 77 shares during the last quarter. Quotient Wealth Partners LLC increased its position in Illinois Tool Works by 5.2% during the third quarter. Quotient Wealth Partners LLC now owns 1,041 shares of the industrial products company’s stock worth $273,000 after buying an additional 51 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its holdings in shares of Illinois Tool Works by 1.7% in the third quarter. Franklin Street Advisors Inc. NC now owns 3,987 shares of the industrial products company’s stock worth $1,045,000 after acquiring an additional 67 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $255.77 on Friday. The stock has a market capitalization of $75.53 billion, a P/E ratio of 22.13, a PEG ratio of 3.61 and a beta of 1.11. 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 business’s fifty day moving average price is $260.34 and its 200 day moving average price is $257.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on ITW shares. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their target price 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, February 3rd. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $271.00.

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.