MeadowBrook Investment Advisors LLC Trims Holdings in Illinois Tool Works Inc. (NYSE:ITW)

MeadowBrook Investment Advisors LLC reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,532 shares of the industrial products company’s stock after selling 70 shares during the quarter. Illinois Tool Works comprises approximately 1.2% of MeadowBrook Investment Advisors LLC’s holdings, making the stock its 21st largest position. MeadowBrook Investment Advisors LLC’s holdings in Illinois Tool Works were worth $1,403,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nikulski Financial Inc. grew its holdings in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares in the last quarter. Baron Wealth Management LLC grew its holdings in shares of Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares in the last quarter. Sigma Planning Corp lifted its position in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after buying an additional 41 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.4 %

Shares of ITW stock opened at $258.65 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $76.38 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 4.79 and a beta of 1.11. The stock has a 50 day simple moving average of $259.49 and a 200-day simple moving average of $257.50. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Company 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.