Fenimore Asset Management Inc Lowers Stake in Illinois Tool Works Inc. (NYSE:ITW)

Fenimore Asset Management Inc decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,551 shares of the industrial products company’s stock after selling 1,287 shares during the quarter. Illinois Tool Works accounts for approximately 2.1% of Fenimore Asset Management Inc’s portfolio, making the stock its 20th largest position. Fenimore Asset Management Inc’s holdings in Illinois Tool Works were worth $98,775,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. International Assets Investment Management LLC boosted its position in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after buying an additional 322,192 shares during the period. National Bank of Canada FI grew its stake in shares of Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after acquiring an additional 308,935 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after acquiring an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. raised its position in Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after purchasing an additional 165,607 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $269.89.

Illinois Tool Works Trading Down 0.0 %

ITW opened at $259.83 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The business’s 50 day moving average is $263.01 and its two-hundred day moving average is $256.30. The firm has a market cap of $76.73 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

About Illinois Tool Works

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.