Illinois Tool Works Inc. (NYSE:ITW) Stake Lowered by Cozad Asset Management Inc.

Cozad Asset Management Inc. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,416 shares of the industrial products company's stock after selling 1,152 shares during the quarter. Cozad Asset Management Inc.'s holdings in Illinois Tool Works were worth $1,591,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ITW. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares during the last quarter. New Age Alpha Advisors LLC boosted its stake in Illinois Tool Works by 5,481.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 4,409 shares of the industrial products company's stock valued at $1,118,000 after acquiring an additional 4,330 shares during the period. Allianz SE acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $181,000. Clearbridge Investments LLC boosted its stake in Illinois Tool Works by 1.3% in the fourth quarter. Clearbridge Investments LLC now owns 305,762 shares of the industrial products company's stock valued at $77,529,000 after acquiring an additional 3,911 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in Illinois Tool Works by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 154 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 105 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW traded down $4.06 during trading on Friday, reaching $251.91. The stock had a trading volume of 1,236,431 shares, compared to its average volume of 1,107,026. The firm has a market capitalization of $73.81 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 5.29 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a 50 day moving average of $250.93 and a two-hundred day moving average of $250.15.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction on Monday, June 2nd. The shares were bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. Stifel Nicolaus lifted their target price on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research note on Thursday. Citigroup lifted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Truist Financial downgraded Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective for the company. in a research report on Thursday. Finally, Robert W. Baird boosted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $259.08.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.