Patrick M Sweeney & Associates Inc. Buys 71 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Patrick M Sweeney & Associates Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,334 shares of the industrial products company’s stock after purchasing an additional 71 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Illinois Tool Works were worth $592,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the third quarter worth $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the third quarter valued at $35,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 1.7 %

Shares of Illinois Tool Works stock opened at $264.37 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The firm has a market cap of $78.07 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 3.60 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business has a 50-day moving average price of $263.01 and a 200-day moving average price of $256.60.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the firm earned $2.55 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITW shares. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of 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, Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $269.89.

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.