Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Patron Partners LLC

Patron Partners LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,446 shares of the industrial products company’s stock after acquiring an additional 87 shares during the quarter. Patron Partners LLC’s holdings in Illinois Tool Works were worth $620,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ITW. Dupree Financial Group LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $2,843,000. Trust Point Inc. lifted its stake in Illinois Tool Works by 6.2% in the fourth quarter. Trust Point Inc. now owns 2,339 shares of the industrial products company’s stock valued at $593,000 after buying an additional 136 shares in the last quarter. S.A. Mason LLC grew its stake in shares of Illinois Tool Works by 6.4% in the fourth quarter. S.A. Mason LLC now owns 1,084 shares of the industrial products company’s stock valued at $275,000 after buying an additional 65 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Illinois Tool Works by 4.5% in the fourth quarter. Greenleaf Trust now owns 14,292 shares of the industrial products company’s stock valued at $3,624,000 after buying an additional 609 shares during the period. Finally, Spire Wealth Management increased its holdings in Illinois Tool Works by 196.3% in the 4th quarter. Spire Wealth Management now owns 7,371 shares of the industrial products company’s stock worth $1,869,000 after purchasing an additional 4,883 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 1.4 %

NYSE ITW opened at $255.58 on Tuesday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm’s 50 day moving average price is $262.05 and its two-hundred day moving average price is $257.01. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market cap of $75.47 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 3.61 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Barclays decreased their price target on shares of 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. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average price target of $272.67.

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.