DAVENPORT & Co LLC Increases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

DAVENPORT & Co LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,627 shares of the industrial products company’s stock after acquiring an additional 2,022 shares during the quarter. DAVENPORT & Co LLC’s holdings in Illinois Tool Works were worth $7,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ITW. Centaurus Financial Inc. lifted its position in shares of Illinois Tool Works by 8.1% during the 2nd quarter. Centaurus Financial Inc. now owns 614 shares of the industrial products company’s stock valued at $145,000 after buying an additional 46 shares in the last quarter. Czech National Bank lifted its position in shares of Illinois Tool Works by 6.4% during the 3rd quarter. Czech National Bank now owns 55,038 shares of the industrial products company’s stock valued at $14,424,000 after buying an additional 3,292 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Illinois Tool Works by 17.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,180 shares of the industrial products company’s stock worth $1,620,000 after purchasing an additional 927 shares in the last quarter. Parisi Gray Wealth Management lifted its holdings in Illinois Tool Works by 1.7% in the 3rd quarter. Parisi Gray Wealth Management now owns 6,676 shares of the industrial products company’s stock worth $1,750,000 after purchasing an additional 109 shares in the last quarter. Finally, Shotwell Rutter Baer Inc bought a new stake in Illinois Tool Works in the 3rd quarter worth approximately $221,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 1.4 %

ITW opened at $255.58 on Tuesday. The stock has a market capitalization of $75.47 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The business has a fifty day moving average price of $262.05 and a 200 day moving average price of $257.01. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Stifel Nicolaus cut their price objective 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. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $272.67.

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.