Patron Partners LLC Increases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Patron Partners LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,446 shares of the industrial products company’s stock after purchasing 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pensionfund Sabic increased its holdings in shares of Illinois Tool Works by 37.0% in the 4th 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 period. Franklin Resources Inc. lifted its position in shares of Illinois Tool Works by 41.0% during the 3rd 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 during the last quarter. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $1,729,000. Czech National Bank grew its stake in shares of Illinois Tool Works by 5.9% in the 4th 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 during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter worth $1,179,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $255.58 on Tuesday. 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 simple moving average of $262.05 and a two-hundred day simple moving average of $257.01. The firm has a market capitalization of $75.47 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Finally, Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $272.67.

Illinois Tool Works 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.