Barclays PLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 57.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 699,639 shares of the industrial products company’s stock after purchasing an additional 254,321 shares during the period. Barclays PLC owned about 0.23% of Illinois Tool Works worth $161,131,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ITW. Northwest Capital Management Inc acquired a new stake in Illinois Tool Works in the second quarter valued at $28,000. Briaud Financial Planning Inc acquired a new stake in Illinois Tool Works in the third quarter valued at $25,000. Miller Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $31,000. Quarry LP increased its position in shares of Illinois Tool Works by 52.7% during the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Finally, Union Savings Bank acquired a new stake in shares of Illinois Tool Works during the second quarter worth about $39,000. 79.56% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ITW. Citigroup lifted their target price on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company boosted their price target on Illinois Tool Works from $220.00 to $277.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $242.27.
Illinois Tool Works Price Performance
Shares of ITW opened at $265.81 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $266.36. The stock’s 50 day moving average is $254.45 and its two-hundred day moving average is $244.06. The firm has a market capitalization of $79.98 billion, a PE ratio of 25.78, a P/E/G ratio of 5.03 and a beta of 1.15. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 2.27.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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