Trust Point Inc. Buys 136 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Trust Point Inc. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,339 shares of the industrial products company’s stock after purchasing an additional 136 shares during the quarter. Trust Point Inc.’s holdings in Illinois Tool Works were worth $593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake 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 buying an additional 149,272 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 worth $1,645,972,000 after acquiring an additional 167,422 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of 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 purchasing an additional 135,023 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Illinois Tool Works by 1.8% during 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 purchasing an additional 32,656 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Illinois Tool Works by 1.0% in 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 in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE:ITW opened at $254.70 on Wednesday. The stock has a market cap of $75.21 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 3.61 and a beta of 1.11. The business’s 50 day moving average is $261.64 and its 200 day moving average is $257.06. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Barclays cut their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.67.

Get Our Latest Stock Analysis on ITW

About Illinois Tool Works

(Free Report)

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.

Further Reading

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

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