Webster Bank N. A. Sells 200 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Webster Bank N. A. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,355 shares of the industrial products company’s stock after selling 200 shares during the quarter. Webster Bank N. A.’s holdings in Illinois Tool Works were worth $1,865,000 at the end of the most recent quarter.

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

Illinois Tool Works Stock Down 0.0 %

ITW stock opened at $259.83 on Monday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a market cap of $76.73 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. 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 business has a 50 day moving average price of $263.01 and a two-hundred day moving average price of $256.60.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ITW. Jefferies Financial Group boosted their price objective 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. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research report on Friday. Wells Fargo & Company lowered their target price 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. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $269.89.

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.