Commonwealth Financial Services LLC Grows Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Commonwealth Financial Services LLC raised its position in Illinois Tool Works Inc. (NYSE:ITW) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,647 shares of the industrial products company’s stock after buying an additional 332 shares during the period. Commonwealth Financial Services LLC’s holdings in Illinois Tool Works were worth $418,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $28,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% in 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 bought a new position in shares of Illinois Tool Works during the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays reduced 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. Robert W. Baird lifted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $272.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $255.58 on Tuesday. The company has a 50 day moving average of $262.05 and a 200 day moving average of $257.01. 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 cap of $75.47 billion, a P/E ratio of 22.11, a P/E/G ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

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.