Baron Wealth Management LLC Acquires 39 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Baron Wealth Management LLC increased its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 910 shares of the industrial products company’s stock after purchasing an additional 39 shares during the quarter. Baron Wealth Management LLC’s holdings in Illinois Tool Works were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after acquiring an additional 149,272 shares in the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after acquiring an additional 135,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Illinois Tool Works by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after buying an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock valued at $460,533,000 after purchasing an additional 17,139 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays dropped their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group upped their price target 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. Finally, Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Trading Down 0.8 %

Shares of ITW stock opened at $256.59 on Thursday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a market cap of $75.77 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $262.74 and a 200-day simple moving average of $256.86.

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 the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.55 EPS. On average, equities research 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.