Seamount Financial Group Inc. Sells 185 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Seamount Financial Group Inc. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,441 shares of the industrial products company’s stock after selling 185 shares during the period. Seamount Financial Group Inc.’s holdings in Illinois Tool Works were worth $872,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC boosted its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter valued at $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $255.77 on Friday. The stock’s 50-day moving average is $260.34 and its 200-day moving average is $257.11. The stock has a market cap of $75.53 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year 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.

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