Fifth Third Bancorp Sells 3,637 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Fifth Third Bancorp lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 313,953 shares of the industrial products company’s stock after selling 3,637 shares during the quarter. Fifth Third Bancorp’s holdings in Illinois Tool Works were worth $79,606,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITW. McGuire Investment Group LLC lifted its holdings in shares of Illinois Tool Works by 0.3% in the fourth quarter. McGuire Investment Group LLC now owns 42,656 shares of the industrial products company’s stock valued at $10,816,000 after purchasing an additional 125 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Illinois Tool Works by 57.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,845 shares of the industrial products company’s stock valued at $2,496,000 after acquiring an additional 3,605 shares in the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in Illinois Tool Works by 12.4% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,943 shares of the industrial products company’s stock worth $493,000 after acquiring an additional 214 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter worth $90,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $259.83 on Friday. The firm has a market cap of $76.73 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.60 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. The stock’s fifty day moving average price is $263.22 and its two-hundred day moving average price is $256.12. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

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

Analyst Ratings Changes

A number of research firms recently weighed in on ITW. Stifel Nicolaus decreased their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price target on 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. 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 report on Wednesday, January 8th. Citigroup cut their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $269.89.

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.