Western Wealth Management LLC Raises Position in Illinois Tool Works Inc. (NYSE:ITW)

by · The Cerbat Gem

Western Wealth Management LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,394 shares of the industrial products company’s stock after buying an additional 81 shares during the period. Western Wealth Management LLC’s holdings in Illinois Tool Works were worth $1,473,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Northwest Capital Management Inc acquired a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $28,000. Briaud Financial Planning Inc acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $25,000. Miller Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $31,000. Quarry LP increased its position in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 49 shares during the period. Finally, Union Savings Bank acquired a new stake in Illinois Tool Works in the 2nd quarter valued at approximately $39,000. Institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $256.07 on Friday. The stock has a market cap of $77.05 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 4.81 and a beta of 1.15. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $267.12. The company has a current ratio of 1.33, a quick ratio of 1.13 and a debt-to-equity ratio of 2.10. The stock has a fifty day moving average price of $255.44 and a 200 day moving average price of $244.29.

Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $2.34 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts forecast that Illinois Tool Works Inc. will post 10.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ITW shares. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Citigroup raised their price objective on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research note on Monday, December 11th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $220.00 to $277.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Finally, Stifel Nicolaus raised their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $241.00.

Read Our Latest Stock Report on Illinois Tool Works

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Featured Stories

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW – Free Report).