Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Cut by Chicago Capital LLC

Chicago Capital LLC reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,447 shares of the industrial products company’s stock after selling 2,456 shares during the period. Chicago Capital LLC’s holdings in Illinois Tool Works were worth $6,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nikulski Financial Inc. boosted its stake in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares in the last quarter. Baron Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial increased their target price 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 reduced their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Barclays cut their price objective on 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, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Stock Down 0.4 %

ITW stock opened at $259.16 on Monday. The company has a market cap of $76.53 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 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 business’s 50-day simple moving average is $262.05 and its 200 day simple moving average is $256.99.

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.