Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Consolidated Planning Corp

Consolidated Planning Corp grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 43.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,004 shares of the industrial products company’s stock after acquiring an additional 611 shares during the quarter. Consolidated Planning Corp’s holdings in Illinois Tool Works were worth $508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITW shares. Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $256.12 on Thursday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market cap of $75.63 billion, a PE ratio of 21.85, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The business has a 50-day simple moving average of $259.14 and a 200-day simple moving average of $257.58.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current fiscal 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.