Winnow Wealth LLC Makes New Investment in Illinois Tool Works Inc. $ITW

Winnow Wealth LLC acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) during the 3rd quarter, Holdings Channel reports. The fund acquired 3,772 shares of the industrial products company’s stock, valued at approximately $984,000.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew 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 purchasing an additional 277 shares during the period. Bison Wealth LLC boosted its stake in Illinois Tool Works by 2.3% during the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake 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 valued at $26,000 after acquiring an additional 50 shares during the period. Finally, Tower View Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 246.8% in the 2nd quarter. Tower View Wealth Management LLC now owns 763 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $261.27 on Friday. The firm has a fifty day moving average of $253.33 and a two-hundred day moving average of $254.94. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a market capitalization of $75.79 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 14.08 and a beta of 1.15. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Truist Financial decreased their price target on 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. Wolfe Research lifted their price objective on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research note on Thursday, January 15th. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research note on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $261.08.

About Illinois Tool Works

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.