CENTRAL TRUST Co Has $1.84 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

CENTRAL TRUST Co reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,268 shares of the industrial products company’s stock after selling 390 shares during the quarter. CENTRAL TRUST Co’s holdings in Illinois Tool Works were worth $1,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITW. Franklin Resources Inc. increased its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares during the period. National Bank of Canada FI boosted its stake in Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after purchasing an additional 165,607 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.4 %

Shares of ITW opened at $259.16 on Monday. The company has a market capitalization of $76.53 billion, a PE ratio of 22.42, a PEG ratio of 3.61 and a beta of 1.11. The stock’s 50-day moving average price is $262.05 and its two-hundred day moving average price is $256.99. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Analysts Set New Price Targets

Several analysts recently commented on ITW shares. Citigroup dropped their price objective 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. Barclays dropped their price target on 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company lowered their price objective on shares of 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus 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.