Sovran Advisors LLC Invests $398,000 in Illinois Tool Works Inc. (NYSE:ITW)

Sovran Advisors LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, Holdings Channel reports. The firm bought 1,575 shares of the industrial products company’s stock, valued at approximately $398,000.

Several other hedge funds have also recently added to or reduced their stakes in ITW. State Street Corp increased its holdings in shares of Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC grew its position in Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after buying an additional 167,422 shares in the last quarter. Fisher Asset Management LLC grew its position in Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after buying an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock worth $484,685,000 after acquiring an additional 32,656 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of Illinois Tool Works by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after acquiring an additional 17,139 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Trading Down 1.0 %

Shares of NYSE ITW opened at $256.12 on Thursday. The business has a fifty day simple moving average of $259.14 and a 200-day simple moving average of $257.58. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.79 and a beta of 1.11. 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 released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

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.