Keybank National Association OH Reduces Holdings in Illinois Tool Works Inc. $ITW

Keybank National Association OH lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,228 shares of the industrial products company’s stock after selling 2,868 shares during the period. Keybank National Association OH’s holdings in Illinois Tool Works were worth $12,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ITW. Northcape Wealth Management LLC boosted its holdings in shares of 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 valued at $475,000 after acquiring an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Illinois Tool Works by 4.2% during the 2nd 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 in the last quarter. Freedom Investment Management Inc. lifted its holdings in Illinois Tool Works by 3.0% during the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 42 shares in the last quarter. Everpar Advisors LLC boosted its holdings in Illinois Tool Works by 1.7% in the 3rd quarter. Everpar Advisors LLC now owns 2,574 shares of the industrial products company’s stock worth $671,000 after buying an additional 42 shares during the last quarter. Finally, EPG Wealth Management LLC boosted its stake 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 acquiring an additional 43 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ITW. Wolfe Research boosted their price target on shares of Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research report on Thursday, January 15th. Evercore ISI decreased 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. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $220.00 to $255.00 in a report on Tuesday, November 18th. Barclays lifted their target price on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $261.08.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Down 0.6%

NYSE ITW opened at $261.27 on Friday. The firm’s fifty day moving average price is $253.33 and its 200 day moving average price is $254.93. The company has a market capitalization of $75.79 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11.

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.