3,772 Shares in Illinois Tool Works Inc. $ITW Purchased by Winnow Wealth LLC

Winnow Wealth LLC purchased a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,772 shares of the industrial products company’s stock, valued at approximately $984,000.

Other large investors have also added to or reduced their stakes in the company. Northcape Wealth Management LLC raised its holdings in Illinois Tool Works by 2.1% in the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Illinois Tool Works by 4.2% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after buying an additional 40 shares during the period. Freedom Investment Management Inc. raised its holdings in Illinois Tool Works by 3.0% in the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 42 shares during the period. Everpar Advisors LLC lifted its position in shares of Illinois Tool Works by 1.7% during the 3rd quarter. Everpar Advisors LLC now owns 2,574 shares of the industrial products company’s stock valued at $671,000 after buying an additional 42 shares in the last quarter. Finally, EPG Wealth Management LLC boosted its position in shares of Illinois Tool Works by 1.1% in the second quarter. EPG Wealth Management LLC now owns 3,893 shares of the industrial products company’s stock worth $963,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.6%

Shares of NYSE:ITW opened at $261.27 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $75.79 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 14.08 and a beta of 1.15. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The business has a 50-day moving average price of $253.33 and a 200 day moving average price of $254.94.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research upped their price target on Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research note on Thursday, January 15th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Truist Financial decreased their target price on Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. The Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $258.00 to $230.00 in a report on Tuesday, December 16th. Finally, Evercore ISI dropped their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $261.08.

Insiders Place Their Bets

In other news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.