Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,321 shares of the industrial products company’s stock after selling 153 shares during the period. Sumitomo Life Insurance Co.’s holdings in Illinois Tool Works were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ITW. Fulton Breakefield Broenniman LLC raised its holdings in Illinois Tool Works by 0.9% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 7,486 shares of the industrial products company’s stock worth $1,898,000 after purchasing an additional 64 shares in the last quarter. BSW Wealth Partners increased its position in shares of Illinois Tool Works by 3.9% during the 4th quarter. BSW Wealth Partners now owns 1,789 shares of the industrial products company’s stock valued at $454,000 after purchasing an additional 67 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Illinois Tool Works by 23.4% in the 4th quarter. Perigon Wealth Management LLC now owns 8,890 shares of the industrial products company’s stock worth $2,275,000 after buying an additional 1,683 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Illinois Tool Works by 3.1% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 2,334 shares of the industrial products company’s stock valued at $592,000 after buying an additional 71 shares during the period. Finally, Nilsine Partners LLC boosted its stake in Illinois Tool Works by 19.5% during the fourth quarter. Nilsine Partners LLC now owns 1,996 shares of the industrial products company’s stock valued at $506,000 after buying an additional 326 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $256.59 on Thursday. The firm has a market cap of $75.77 billion, a P/E ratio of 22.20, a PEG ratio of 3.60 and a beta of 1.11. 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 fifty-two week low of $232.77 and a fifty-two week high of $279.13. The stock’s 50-day moving average is $262.74 and its two-hundred day moving average is $256.86.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITW. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $269.89.

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.