McGlone Suttner Wealth Management Inc. Raises Stake in Illinois Tool Works Inc. (NYSE:ITW)

McGlone Suttner Wealth Management Inc. grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,943 shares of the industrial products company’s stock after acquiring an additional 214 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Illinois Tool Works were worth $493,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC increased its stake 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 purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth $35,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ITW. 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 report on Monday, January 13th. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Barclays decreased their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Up 0.2 %

Shares of NYSE ITW opened at $259.68 on Friday. 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 stock has a market capitalization of $76.68 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock’s fifty day simple moving average is $263.43 and its two-hundred day simple moving average is $256.09.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

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.