Certuity LLC Grows Stake in Illinois Tool Works Inc. (NYSE:ITW)

Certuity LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,506 shares of the industrial products company’s stock after purchasing an additional 257 shares during the period. Certuity LLC’s holdings in Illinois Tool Works were worth $382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the fourth quarter valued at about $28,000. True Wealth Design LLC increased its holdings in shares of 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 acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 1.0 %

Shares of NYSE:ITW opened at $256.12 on Thursday. The business’s 50 day moving average price is $259.14 and its 200-day moving average price is $257.58. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a market capitalization of $75.63 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted 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 21.94% and a return on equity of 95.39%. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ITW. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Barclays cut their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $271.00.

About Illinois Tool Works

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.