Lockheed Martin Investment Management Co. Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Lockheed Martin Investment Management Co. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 33.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,750 shares of the industrial products company’s stock after purchasing an additional 9,280 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Illinois Tool Works were worth $9,318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pensionfund Sabic increased its stake in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 worth $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Clark & Stuart Inc bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $1,729,000. Czech National Bank raised its stake in Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Illinois Tool Works during the third quarter valued at approximately $1,179,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.3 %

NYSE:ITW opened at $254.70 on Wednesday. The firm has a market capitalization of $75.21 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.61 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company has a fifty day moving average of $261.64 and a 200 day moving average of $257.06. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Robert W. Baird boosted their target price 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. Finally, Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.