Beacon Investment Advisory Services Inc. Reduces Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Beacon Investment Advisory Services Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 131,434 shares of the industrial products company’s stock after selling 1,074 shares during the period. Illinois Tool Works accounts for about 1.4% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 18th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in Illinois Tool Works were worth $33,326,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $28,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.9 %

ITW opened at $259.02 on Thursday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $76.49 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 3.63 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business’s fifty day moving average is $263.43 and its two-hundred day moving average is $256.09.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $2.55 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ITW. Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird lifted 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. Wells Fargo & Company cut their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Citigroup decreased their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Barclays cut their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Company 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.