Costello Asset Management INC Sells 50 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Costello Asset Management INC lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 14.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 300 shares of the industrial products company’s stock after selling 50 shares during the quarter. Costello Asset Management INC’s holdings in Illinois Tool Works were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at approximately $28,000. True Wealth Design LLC grew its holdings in 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 in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE ITW opened at $259.16 on Friday. The business’s 50 day moving average price is $262.05 and its 200-day moving average price is $256.96. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market cap of $76.53 billion, a P/E ratio of 22.42, a P/E/G ratio of 3.57 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Barclays decreased their price target 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. Stifel Nicolaus decreased their target price 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. Robert W. Baird raised 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. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.