Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,900 shares of the industrial products company’s stock after selling 118 shares during the quarter. Dakota Wealth Management’s holdings in Illinois Tool Works were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ITW. Nikulski Financial Inc. lifted its position in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the period. Sigma Planning Corp boosted its position in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after buying an additional 41 shares during the last quarter. Harbour Investments Inc. increased its holdings in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after buying an additional 41 shares during the period. Finally, Procyon Advisors LLC raised its position in Illinois Tool Works by 2.7% during the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after buying an additional 43 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ITW. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus decreased their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Trading Down 0.0 %

Shares of NYSE:ITW opened at $259.83 on Friday. The firm has a market capitalization of $76.73 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The business’s 50 day moving average price is $263.22 and its 200-day moving average price is $256.12. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

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