Focused Wealth Management Inc Invests $38,000 in Illinois Tool Works Inc. (ITW) Stock

Focused Wealth Management Inc acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 300 shares of the industrial products company’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Toth Financial Advisory Corp grew its holdings in Illinois Tool Works by 100.0% during the 4th quarter. Toth Financial Advisory Corp now owns 350 shares of the industrial products company’s stock valued at $44,000 after buying an additional 175 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in Illinois Tool Works by 101.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 374 shares of the industrial products company’s stock valued at $47,000 after buying an additional 188 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Illinois Tool Works by 100.0% during the 4th quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock valued at $54,000 after buying an additional 210 shares in the last quarter. NuWave Investment Management LLC grew its holdings in Illinois Tool Works by 3,530.8% during the 4th quarter. NuWave Investment Management LLC now owns 472 shares of the industrial products company’s stock valued at $60,000 after buying an additional 459 shares in the last quarter. Finally, We Are One Seven LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $73,000. 76.31% of the stock is owned by institutional investors.

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NYSE:ITW opened at $134.43 on Friday. The company has a market capitalization of $44.60 billion, a P/E ratio of 17.69, a PEG ratio of 1.68 and a beta of 1.19. Illinois Tool Works Inc. has a 1-year low of $117.75 and a 1-year high of $173.25. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 1.71.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. Illinois Tool Works’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 8.07 EPS for the current fiscal year.

ITW has been the subject of a number of recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating and set a $150.00 target price (down previously from $160.00) on shares of Illinois Tool Works in a report on Wednesday, October 17th. Citigroup set a $148.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research report on Thursday, October 25th. Morgan Stanley set a $131.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, October 25th. Deutsche Bank set a $134.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, October 25th. Finally, Robert W. Baird set a $130.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, October 24th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average target price of $139.47.

In related news, CFO Michael M. Larsen sold 58,736 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $132.91, for a total value of $7,806,601.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ernest Scott Santi sold 108,885 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total value of $14,502,393.15. Following the completion of the transaction, the chief executive officer now directly owns 149,777 shares in the company, valued at $19,948,798.63. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

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Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

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