Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Aljian Capital Management LLC

Aljian Capital Management LLC grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 169.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,890 shares of the industrial products company’s stock after purchasing an additional 6,851 shares during the quarter. Illinois Tool Works makes up approximately 0.6% of Aljian Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Aljian Capital Management LLC’s holdings in Illinois Tool Works were worth $2,761,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of Illinois Tool Works by 1,542.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the industrial products company’s stock worth $1,635,000 after acquiring an additional 5,860 shares in the last quarter. Procyon Advisors LLC lifted its stake in Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 43 shares during the last quarter. Swedbank AB boosted its holdings in Illinois Tool Works by 2.0% in the third quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after purchasing an additional 1,768 shares during the period. Brady Family Wealth LLC increased its stake in Illinois Tool Works by 1.4% during the third quarter. Brady Family Wealth LLC now owns 17,726 shares of the industrial products company’s stock valued at $4,645,000 after purchasing an additional 244 shares during the last quarter. Finally, Lynch & Associates IN raised its holdings in shares of Illinois Tool Works by 1.0% during the third quarter. Lynch & Associates IN now owns 16,021 shares of the industrial products company’s stock worth $4,198,000 after purchasing an additional 164 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.0 %

Illinois Tool Works stock opened at $256.12 on Thursday. The company’s 50-day moving average price is $258.74 and its two-hundred day moving average price is $257.57. The stock has a market cap of $75.63 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 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%. On average, analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Company 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.