Symphony Financial Ltd. Co. Sells 2,609 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Symphony Financial Ltd. Co. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 43.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,362 shares of the industrial products company’s stock after selling 2,609 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Illinois Tool Works were worth $879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Evermay Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 4.1% in the 4th quarter. Evermay Wealth Management LLC now owns 1,283 shares of the industrial products company’s stock valued at $326,000 after buying an additional 50 shares in the last quarter. Concord Wealth Partners lifted its position in Illinois Tool Works by 47.7% during the fourth quarter. Concord Wealth Partners now owns 2,679 shares of the industrial products company’s stock valued at $679,000 after acquiring an additional 865 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in Illinois Tool Works by 44.7% in the fourth quarter. Concord Asset Management LLC VA now owns 2,558 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 790 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Illinois Tool Works by 6.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the industrial products company’s stock worth $645,000 after purchasing an additional 164 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its position in shares of Illinois Tool Works by 1.8% during the fourth quarter. Waldron Private Wealth LLC now owns 8,552 shares of the industrial products company’s stock worth $2,168,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.4 %

Shares of NYSE ITW opened at $259.16 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. The stock has a market capitalization of $76.53 billion, a PE ratio of 22.42, a PEG ratio of 3.57 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a fifty day simple moving average of $262.05 and a 200-day simple moving average of $256.96.

Illinois Tool Works (NYSE:ITW) last released its earnings results 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 analyst estimates of $4.02 billion. During the same period in the prior year, the business earned $2.55 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on 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. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Barclays decreased their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird boosted their price objective on shares of 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 given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $269.89.

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.