Portfolio Design Labs LLC Has $417,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Portfolio Design Labs LLC boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 56.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,643 shares of the industrial products company’s stock after acquiring an additional 593 shares during the period. Portfolio Design Labs LLC’s holdings in Illinois Tool Works were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $256.12 on Thursday. The stock has a market cap of $75.63 billion, a P/E ratio of 21.85, a PEG ratio of 4.79 and a beta of 1.11. The company’s 50-day simple moving average is $259.14 and its 200 day simple moving average is $257.58. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month 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 1.90.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $271.00.

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.