Great Valley Advisor Group Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 28.9% in the third quarter, Holdings Channel reports. The firm owned 3,398 shares of the industrial products company’s stock after acquiring an additional 761 shares during the period. Great Valley Advisor Group Inc.’s holdings in Illinois Tool Works were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in ITW. Moneta Group Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 106,553.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after purchasing an additional 7,178,474 shares during the period. Norges Bank acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $708,259,000. Morgan Stanley boosted its position in shares of Illinois Tool Works by 59.2% in the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock valued at $1,011,459,000 after purchasing an additional 1,707,780 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock valued at $1,363,875,000 after purchasing an additional 607,321 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Illinois Tool Works by 4,162.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 496,656 shares of the industrial products company’s stock valued at $120,911,000 after acquiring an additional 485,003 shares during the last quarter. 79.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have commented on ITW shares. Wells Fargo & Company upped their price objective on Illinois Tool Works from $220.00 to $277.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 19th. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. StockNews.com started coverage on Illinois Tool Works in a research note on Thursday, October 5th. They set a “hold” rating for the company. Stifel Nicolaus upped their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $242.27.
Illinois Tool Works Stock Performance
Shares of ITW stock opened at $265.81 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $266.36. The company has a market cap of $79.98 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 5.03 and a beta of 1.15. The stock has a 50 day simple moving average of $254.45 and a 200-day simple moving average of $244.06. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 2.27.
Illinois Tool Works Company Profile
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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