Illinois Tool Works Inc. $ITW Shares Acquired by National Pension Service

National Pension Service lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 677,446 shares of the industrial products company’s stock after buying an additional 14,997 shares during the period. National Pension Service owned approximately 0.23% of Illinois Tool Works worth $176,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Illinois Tool Works during the 2nd quarter worth approximately $821,888,000. Massachusetts Financial Services Co. MA boosted its position in shares of Illinois Tool Works by 12.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after buying an additional 415,982 shares in the last quarter. Laurel Wealth Advisors LLC grew its position in shares of Illinois Tool Works by 24,625.1% in the second quarter. Laurel Wealth Advisors LLC now owns 343,431 shares of the industrial products company’s stock valued at $84,913,000 after purchasing an additional 342,042 shares during the last quarter. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock valued at $6,607,453,000 after buying an additional 335,955 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Illinois Tool Works by 9.1% during the second quarter. Invesco Ltd. now owns 2,220,345 shares of the industrial products company’s stock valued at $548,980,000 after acquiring an additional 185,416 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Trading Down 0.6%

NYSE:ITW opened at $261.27 on Friday. The business has a 50 day simple moving average of $253.33 and a 200 day simple moving average of $254.93. The firm has a market capitalization of $75.79 billion, a P/E ratio of 25.34, a P/E/G ratio of 14.08 and a beta of 1.15. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13.

Analyst Upgrades and Downgrades

Several analysts have commented on ITW shares. The Goldman Sachs Group cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Evercore ISI dropped their target price on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research report on Monday, November 17th. Wolfe Research raised their price objective on Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research report on Thursday, January 15th. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Finally, Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday, October 27th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $261.08.

Illinois Tool Works Profile

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.