Massachusetts Wealth Management Acquires 50 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Massachusetts Wealth Management lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,724 shares of the industrial products company’s stock after purchasing an additional 50 shares during the quarter. Massachusetts Wealth Management’s holdings in Illinois Tool Works were worth $1,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Illinois Tool Works by 19.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,997 shares of the industrial products company’s stock valued at $9,470,000 after acquiring an additional 6,113 shares in the last quarter. Lockheed Martin Investment Management Co. raised its stake in Illinois Tool Works by 33.8% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 36,750 shares of the industrial products company’s stock valued at $9,318,000 after purchasing an additional 9,280 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $37,000. Stratos Wealth Advisors LLC grew its stake in Illinois Tool Works by 3.8% during the fourth quarter. Stratos Wealth Advisors LLC now owns 1,881 shares of the industrial products company’s stock worth $477,000 after buying an additional 69 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in Illinois Tool Works by 2.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 26,220 shares of the industrial products company’s stock valued at $6,648,000 after buying an additional 543 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITW shares. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Barclays lowered their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $272.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $254.70 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market cap of $75.21 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The firm’s fifty day moving average is $261.20 and its 200-day moving average is $257.14.

Illinois Tool Works 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.