Apexium Financial LP Makes New Investment in Illinois Tool Works Inc. (NYSE:ITW)

Apexium Financial LP purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 847 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 1.7 %

NYSE:ITW opened at $264.37 on Tuesday. The firm has a market capitalization of $78.07 billion, a P/E ratio of 22.87, a PEG ratio of 3.60 and a beta of 1.11. The company’s fifty day moving average price is $263.01 and its 200-day moving average price is $256.60. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. 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 (NYSE:ITW) last issued its quarterly earnings data 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 during 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.