Keybank National Association OH Cuts Stake in Illinois Tool Works Inc. $ITW

Keybank National Association OH trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,228 shares of the industrial products company’s stock after selling 2,868 shares during the quarter. Keybank National Association OH’s holdings in Illinois Tool Works were worth $12,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after buying an additional 277 shares in the last quarter. Bison Wealth LLC increased its holdings in Illinois Tool Works by 2.3% during the fourth quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after buying an additional 81 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 177 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Illinois Tool Works by 7.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,477 shares of the industrial products company’s stock worth $10,997,000 after acquiring an additional 2,920 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $261.27 on Friday. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $278.13. The firm’s 50 day moving average price is $253.33 and its 200-day moving average price is $254.93. The company has a market cap of $75.79 billion, a PE ratio of 25.34, a P/E/G ratio of 14.08 and a beta of 1.15. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ITW shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Wednesday. Barclays raised their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Wolfe Research lifted their price target on Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research report on Thursday, January 15th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Finally, Wells Fargo & Company upped their target price on Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $261.08.

Illinois Tool Works 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.