DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Increases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 40.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,908 shares of the industrial products company's stock after acquiring an additional 1,407 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Illinois Tool Works were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Glass Jacobson Investment Advisors llc increased its stake in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $28,000. Finally, Millstone Evans Group LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares of the company's stock, valued at $68,516,979.20. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This represents a 46.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last 90 days. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Barclays reduced their price objective on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial lowered their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $253.67.

Illinois Tool Works Stock Down 0.3%

Shares of ITW opened at $242.40 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The business has a fifty day moving average of $243.34 and a 200 day moving average of $255.87. The company has a market cap of $71.02 billion, a PE ratio of 20.68, a P/E/G ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

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.

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