Money Concepts Capital Corp Decreases Position in Illinois Tool Works Inc. (NYSE:ITW)

Money Concepts Capital Corp lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,021 shares of the industrial products company’s stock after selling 78 shares during the quarter. Money Concepts Capital Corp’s holdings in Illinois Tool Works were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. 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 research note on Monday, January 13th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday. Two 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $272.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $254.40 on Thursday. The stock has a market capitalization of $75.12 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 3.61 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 company has a 50-day simple moving average of $261.20 and a 200-day simple moving average of $257.14. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. On average, analysts predict that Illinois Tool Works Inc. will post 10.14 EPS for the current year.

Illinois Tool Works 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.