Capital Asset Advisory Services LLC Has $286,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Capital Asset Advisory Services LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,134 shares of the industrial products company’s stock after purchasing an additional 153 shares during the period. Capital Asset Advisory Services LLC’s holdings in Illinois Tool Works were worth $286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Illinois Tool Works by 11.7% during the 4th quarter. Blue Trust Inc. now owns 9,679 shares of the industrial products company’s stock worth $2,537,000 after buying an additional 1,013 shares during the period. TI Trust Inc. raised its stake in shares of Illinois Tool Works by 0.8% during the fourth quarter. TI Trust Inc. now owns 11,935 shares of the industrial products company’s stock valued at $3,026,000 after acquiring an additional 100 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Illinois Tool Works by 9.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,413 shares of the industrial products company’s stock worth $865,000 after purchasing an additional 294 shares during the period. Affinity Wealth Management LLC grew its stake in shares of Illinois Tool Works by 12.1% in the fourth quarter. Affinity Wealth Management LLC now owns 1,018 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 110 shares during the last quarter. Finally, Marshall Financial Group LLC increased its holdings in Illinois Tool Works by 2.8% in the fourth quarter. Marshall Financial Group LLC now owns 4,687 shares of the industrial products company’s stock valued at $1,188,000 after purchasing an additional 129 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus reduced 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 note on Friday. Finally, Jefferies Financial Group lifted their target price 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Stock Up 1.7 %

Shares of NYSE ITW opened at $264.37 on Tuesday. 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 firm has a market cap of $78.07 billion, a PE ratio of 22.87, a P/E/G ratio of 3.60 and a beta of 1.11. The company’s fifty day simple moving average is $263.01 and its 200 day simple moving average is $256.60. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works 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.