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

Massachusetts Wealth Management boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,724 shares of the industrial products company’s stock after buying an additional 50 shares during the period. Massachusetts Wealth Management’s holdings in Illinois Tool Works were worth $1,958,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp grew its stake in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the period. Fisher Asset Management LLC increased its stake in shares of Illinois Tool Works by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock valued at $877,234,000 after acquiring an additional 135,023 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after acquiring an additional 32,656 shares during the period. Finally, Stifel Financial Corp grew its holdings in Illinois Tool Works by 1.0% in the third quarter. Stifel Financial Corp now owns 1,757,245 shares of the industrial products company’s stock worth $460,533,000 after purchasing an additional 17,139 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITW. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $272.67.

Illinois Tool Works Trading Down 0.3 %

NYSE:ITW opened at $254.70 on Wednesday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a 50-day moving average price of $261.20 and a two-hundred day moving average price of $257.14. The firm has a market cap of $75.21 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

About Illinois Tool Works

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.