Global X Japan Co. Ltd. Has $516,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Global X Japan Co. Ltd. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 15.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,036 shares of the industrial products company’s stock after buying an additional 273 shares during the period. Global X Japan Co. Ltd.’s holdings in Illinois Tool Works were worth $516,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in 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 worth $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 2.7% in the third 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 during the last quarter. Fisher Asset Management LLC boosted its position in Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after purchasing an additional 135,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 valued at $484,685,000 after buying an additional 32,656 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Illinois Tool Works by 1.0% during the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after purchasing an additional 17,139 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ITW. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays dropped their price target on 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. Finally, Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $271.33.

Illinois Tool Works Price Performance

Shares of ITW opened at $254.86 on Friday. The business has a 50-day moving average of $260.77 and a 200-day moving average of $257.12. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 3.61 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 (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

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.