Ingalls & Snyder LLC Has $2.38 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Ingalls & Snyder LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,398 shares of the industrial products company’s stock after acquiring an additional 59 shares during the period. Ingalls & Snyder LLC’s holdings in Illinois Tool Works were worth $2,383,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC raised 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 worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the third quarter worth $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITW shares. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Citigroup dropped their price objective on shares of 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. JPMorgan Chase & Co. dropped 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 research report on Monday, February 3rd. Wells Fargo & Company dropped 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 research report on Thursday, February 6th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Price Performance

ITW stock opened at $256.12 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a market cap of $75.63 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.79 and a beta of 1.11. The company’s 50-day moving average price is $259.14 and its two-hundred day moving average price is $257.58.

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

Illinois Tool Works Company 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.