Illinois Tool Works Inc. $ITW Stock Holdings Boosted by National Pension Service

National Pension Service increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% during the third quarter, Holdings Channel.com reports. The fund owned 677,446 shares of the industrial products company’s stock after acquiring an additional 14,997 shares during the quarter. National Pension Service’s holdings in Illinois Tool Works were worth $176,651,000 at the end of the most recent reporting period.

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

Illinois Tool Works Stock Down 0.6%

NYSE ITW opened at $261.27 on Friday. The stock has a fifty day moving average of $253.33 and a 200-day moving average of $254.93. 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 P/E ratio of 25.34, a price-to-earnings-growth 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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. Robert W. Baird set a $265.00 price objective on shares of 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 note on Wednesday. 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, Wolfe Research increased their target price on Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a report on Thursday, January 15th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $261.08.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

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.