Spire Wealth Management Acquires 4,883 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Spire Wealth Management increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 196.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,371 shares of the industrial products company’s stock after purchasing an additional 4,883 shares during the quarter. Spire Wealth Management’s holdings in Illinois Tool Works were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITW. Pensionfund Sabic increased its position in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. increased its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. Clark & Stuart Inc purchased a new stake in Illinois Tool Works during the fourth quarter valued at $1,729,000. Czech National Bank increased its position in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Illinois Tool Works during the third quarter valued at $1,179,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITW. JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday. Robert W. Baird upped their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Barclays reduced their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to 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 Illinois Tool Works stock opened at $255.58 on Tuesday. The stock has a 50 day moving average of $262.05 and a 200 day moving average of $257.01. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a market cap of $75.47 billion, a PE ratio of 22.11, a PEG ratio of 3.61 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works Company 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.