Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,413 shares of the industrial products company’s stock after buying an additional 294 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Illinois Tool Works were worth $865,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of several analyst reports. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird lifted 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. Barclays dropped their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $269.89.

Illinois Tool Works Price Performance

Shares of ITW opened at $258.87 on Wednesday. The company has a market cap of $76.44 billion, a P/E ratio of 22.39, a PEG ratio of 3.60 and a beta of 1.11. The stock has a fifty day moving average price of $262.89 and a 200 day moving average price of $256.77. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business earned $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works 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.