McGlone Suttner Wealth Management Inc. Increases Position in Illinois Tool Works Inc. (NYSE:ITW)

McGlone Suttner Wealth Management Inc. boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 12.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,943 shares of the industrial products company’s stock after buying 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 reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ITW. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% during 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 during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the third quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ITW. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their target price 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. Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, Barclays cut their price target on 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Up 0.2 %

Shares of Illinois Tool Works stock 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. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm has a market capitalization of $76.68 billion, a PE ratio of 22.46, a P/E/G ratio of 3.60 and a beta of 1.11. The firm’s 50-day moving average price is $263.43 and its 200 day moving average price is $256.09.

Illinois Tool Works (NYSE:ITW) last released 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. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $2.55 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 EPS 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.