KBC Group NV trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,567 shares of the industrial products company’s stock after selling 13,331 shares during the quarter. KBC Group NV’s holdings in Illinois Tool Works were worth $11,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bedel Financial Consulting Inc. purchased a new position in Illinois Tool Works in the fourth quarter worth about $698,000. California Public Employees Retirement System grew its position in Illinois Tool Works by 1.7% in the fourth quarter. California Public Employees Retirement System now owns 894,961 shares of the industrial products company’s stock worth $149,324,000 after acquiring an additional 14,585 shares in the last quarter. M&T Bank Corp grew its position in Illinois Tool Works by 4.1% in the fourth quarter. M&T Bank Corp now owns 79,932 shares of the industrial products company’s stock worth $13,336,000 after acquiring an additional 3,112 shares in the last quarter. Bridgecreek Investment Management LLC purchased a new position in Illinois Tool Works in the fourth quarter worth about $209,000. Finally, MPI Investment Management Inc. purchased a new position in Illinois Tool Works in the fourth quarter worth about $348,000. Institutional investors own 74.63% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at $161.85 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $128.03 and a 12-month high of $179.07. The stock has a market capitalization of $55,302.33, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.07 and a beta of 1.18. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. 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 earned $1.39 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities research analysts forecast that Illinois Tool Works Inc. will post 7.71 EPS for the current fiscal year.

Several research analysts recently commented on the company. Seaport Global Securities reiterated a “buy” rating and issued a $200.00 price target on shares of Illinois Tool Works in a research report on Thursday, January 25th. Citigroup lifted their price target on Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Argus lifted their price target on Illinois Tool Works to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. Finally, BMO Capital Markets lifted their price target on Illinois Tool Works from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. One equities 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 stock. The stock 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 stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the sale, the insider now owns 42,497 shares in the company, valued at $7,564,466. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Insiders sold 113,468 shares of company stock valued at $19,163,781 in the last quarter. 0.90% of the stock is owned by company insiders.

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About Illinois Tool Works

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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