Guardian Investment Management Has $1.85 Million Holdings in Illinois Tool Works Inc. (ITW)

Guardian Investment Management boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,572 shares of the industrial products company’s stock after acquiring an additional 704 shares during the quarter. Illinois Tool Works comprises about 1.7% of Guardian Investment Management’s investment portfolio, making the stock its 21st biggest position. Guardian Investment Management’s holdings in Illinois Tool Works were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ITW. Bank of New York Mellon Corp raised its position in shares of Illinois Tool Works by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,972,642 shares of the industrial products company’s stock valued at $550,369,000 after acquiring an additional 44,036 shares during the period. Capital Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $351,000. First Manhattan Co. raised its position in shares of Illinois Tool Works by 16.4% in the 3rd quarter. First Manhattan Co. now owns 56,261 shares of the industrial products company’s stock valued at $7,940,000 after acquiring an additional 7,911 shares during the period. First Hawaiian Bank acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $1,545,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Illinois Tool Works by 4.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 165,661 shares of the industrial products company’s stock valued at $23,378,000 after acquiring an additional 7,291 shares during the period. 79.42% of the stock is currently owned by institutional investors.

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A number of analysts recently weighed in on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $124.00 price target on shares of Illinois Tool Works in a research report on Tuesday, January 22nd. Wells Fargo & Co set a $145.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a research note on Thursday, October 25th. ValuEngine raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Deutsche Bank set a $133.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research note on Monday, December 10th. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $128.00 to $124.00 in a research note on Tuesday, February 5th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $137.93.

In other news, EVP John R. Hartnett sold 14,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the completion of the transaction, the executive vice president now directly owns 29,448 shares of the company’s stock, valued at approximately $4,034,376. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 58,736 shares of the firm’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 transaction of $7,806,601.76. The disclosure for this sale can be found here. Insiders have sold a total of 200,772 shares of company stock valued at $26,864,670 over the last ninety days. Company insiders own 0.82% of the company’s stock.

NYSE ITW opened at $138.35 on Thursday. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $171.83. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $46.35 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.70 EPS. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 7.97 earnings per share for the current year.

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About Illinois Tool Works

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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