Illinois Tool Works Inc. (ITW) Holdings Trimmed by Fenimore Asset Management Inc.

Fenimore Asset Management Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,583 shares of the industrial products company’s stock after selling 75,875 shares during the quarter. Illinois Tool Works accounts for approximately 2.3% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 14th largest holding. Fenimore Asset Management Inc.’s holdings in Illinois Tool Works were worth $59,663,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Advisors LLC lifted its holdings in shares of Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 623 shares during the period. Omnia Family Wealth LLC lifted its holdings in shares of Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $130,000. Harding Loevner LP purchased a new position in Illinois Tool Works during the second quarter valued at approximately $115,000. Finally, WFG Advisors LP raised its position in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares in the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (ITW) opened at $160.13 on Friday. The company has a market capitalization of $53,496.83, a P/E ratio of 23.62, a PEG ratio of 2.01 and a beta of 1.18. Illinois Tool Works Inc. has a 12-month low of $127.15 and a 12-month high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.

Several brokerages recently weighed in on ITW. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $160.00 to $168.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Credit Suisse Group lifted their price target on Illinois Tool Works from $163.00 to $166.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Wells Fargo & Co lifted their price target on Illinois Tool Works from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BMO Capital Markets lifted their price target on Illinois Tool Works from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $177.18.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the sale, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roland M. Martel sold 64,818 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $167.41, for a total value of $10,851,181.38. Following the completion of the sale, the insider now owns 26,222 shares of the company’s stock, valued at $4,389,825.02. The disclosure for this sale can be found here. Insiders sold 113,468 shares of company stock valued at $19,163,781 over the last 90 days. Company insiders own 0.90% of the company’s stock.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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