Apollon Wealth Management LLC Acquires 1,093 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Apollon Wealth Management LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,823 shares of the industrial products company’s stock after purchasing an additional 1,093 shares during the period. Apollon Wealth Management LLC’s holdings in Illinois Tool Works were worth $3,251,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Illinois Tool Works by 6.9% during the third quarter. CWM LLC now owns 18,955 shares of the industrial products company’s stock worth $4,968,000 after acquiring an additional 1,231 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Illinois Tool Works by 243.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,056 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,457 shares in the last quarter. Fiduciary Financial Group LLC lifted its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Fiduciary Financial Group LLC now owns 1,308 shares of the industrial products company’s stock valued at $334,000 after purchasing an additional 53 shares during the last quarter. Gateway Investment Advisers LLC grew its stake in Illinois Tool Works by 6.5% during the third quarter. Gateway Investment Advisers LLC now owns 7,722 shares of the industrial products company’s stock worth $2,024,000 after buying an additional 471 shares during the last quarter. Finally, Annex Advisory Services LLC raised its stake in shares of Illinois Tool Works by 54.8% in the third quarter. Annex Advisory Services LLC now owns 1,695 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 600 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.3 %

NYSE:ITW opened at $255.77 on Monday. The company has a market cap of $75.53 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 4.79 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 business has a 50 day moving average price of $259.91 and a two-hundred day moving average price of $257.28. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird upped 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. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group upped their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $271.00.

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.