Meyer Handelman Co. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 190,556 shares of the industrial products company’s stock after selling 300 shares during the period. Illinois Tool Works makes up 1.5% of Meyer Handelman Co.’s portfolio, making the stock its 17th largest holding. Meyer Handelman Co. owned about 0.06% of Illinois Tool Works worth $31,794,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legacy Advisors LLC lifted its holdings in Illinois Tool Works by 988.9% during the 4th quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after buying an additional 623 shares in the last quarter. Omnia Family Wealth LLC lifted its holdings in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in Illinois Tool Works during the 4th quarter valued at about $130,000. Harding Loevner LP bought a new stake in Illinois Tool Works during the 2nd quarter valued at about $115,000. Finally, WFG Advisors LP lifted its holdings in Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after buying an additional 161 shares in the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at $160.13 on Friday. Illinois Tool Works Inc. has a twelve month low of $127.18 and a twelve month high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The company has a market cap of $54,860.38, a PE ratio of 32.95, a PEG ratio of 2.06 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. sell-side analysts expect that Illinois Tool Works Inc. will post 7.71 earnings per share for the current year.

A number of brokerages recently weighed in on ITW. Seaport Global Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a report on Thursday, January 25th. Citigroup lifted their price objective on shares of Illinois Tool Works from $192.00 to $202.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Argus lifted their price objective on shares of Illinois Tool Works to $200.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a report on Thursday, January 25th. Finally, BMO Capital Markets lifted their price objective on shares of Illinois Tool Works from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $177.18.

In related news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the completion of the transaction, the insider now owns 42,497 shares in the company, valued at approximately $7,564,466. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Roland M. Martel sold 64,818 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the transaction, the insider now owns 26,222 shares of the company’s stock, valued at approximately $4,389,825.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,468 shares of company stock valued at $19,163,781. Company insiders own 0.90% of the company’s stock.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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