Mattern Capital Management LLC Acquires 1,686 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mattern Capital Management LLC raised its holdings in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,598 shares of the industrial products company’s stock after buying an additional 1,686 shares during the period. Illinois Tool Works comprises about 1.2% of Mattern Capital Management LLC’s holdings, making the stock its 28th largest position. Mattern Capital Management LLC’s holdings in Illinois Tool Works were worth $7,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Illinois Tool Works by 106,553.0% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. increased its holdings in Illinois Tool Works by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,801,954 shares of the industrial products company’s stock worth $1,689,749,000 after buying an additional 200,180 shares during the last quarter. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,780,294 shares of the industrial products company’s stock worth $1,443,003,000 after buying an additional 168,563 shares during the last quarter. Capital Research Global Investors increased its holdings in Illinois Tool Works by 0.5% during the second quarter. Capital Research Global Investors now owns 5,551,496 shares of the industrial products company’s stock worth $1,388,760,000 after buying an additional 29,825 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Illinois Tool Works by 59.2% during the fourth quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after buying an additional 1,707,780 shares during the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Trading Down 1.1 %

Shares of NYSE ITW traded down $2.84 during mid-day trading on Monday, hitting $253.22. The stock had a trading volume of 98,431 shares, compared to its average volume of 1,111,619. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $267.12. The business has a 50 day moving average price of $255.44 and a two-hundred day moving average price of $244.15. The firm has a market cap of $76.19 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 4.90 and a beta of 1.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ITW shares. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $220.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Citigroup lifted their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research note on Monday, December 11th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Finally, Barclays raised their price objective on shares of Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Monday. Four 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. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $243.60.

Get Our Latest Stock Analysis on ITW

Illinois Tool Works Profile

(Free Report)

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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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