Gries Financial LLC Acquires 97 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Gries Financial LLC lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,960 shares of the industrial products company’s stock after acquiring an additional 97 shares during the period. Illinois Tool Works makes up approximately 3.0% of Gries Financial LLC’s investment portfolio, making the stock its 6th largest position. Gries Financial LLC’s holdings in Illinois Tool Works were worth $16,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired 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 valued at approximately $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE ITW opened at $256.59 on Thursday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $75.77 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.60 and a beta of 1.11. The business has a 50-day moving average of $262.74 and a 200-day moving average of $256.86.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The company 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective 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, January 24th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup cut their target price 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. Finally, Wells Fargo & Company dropped their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average target price 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.