Eisler Capital Management Ltd. Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Eisler Capital Management Ltd. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,865 shares of the industrial products company's stock, valued at approximately $3,466,000.

Several other large investors have also modified their holdings of the stock. Barclays PLC boosted its position in shares of Illinois Tool Works by 1.7% in the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after buying an additional 12,988 shares during the period. Principal Financial Group Inc. grew its position in Illinois Tool Works by 5.2% during the third quarter. Principal Financial Group Inc. now owns 340,027 shares of the industrial products company's stock worth $89,111,000 after buying an additional 16,846 shares in the last quarter. Nordea Investment Management AB grew its position in Illinois Tool Works by 3.2% during the fourth quarter. Nordea Investment Management AB now owns 39,382 shares of the industrial products company's stock worth $10,017,000 after buying an additional 1,216 shares in the last quarter. Diversified Trust Co grew its position in Illinois Tool Works by 8.4% during the fourth quarter. Diversified Trust Co now owns 1,534 shares of the industrial products company's stock worth $389,000 after buying an additional 119 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in Illinois Tool Works by 8.1% during the fourth quarter. Fulton Bank N.A. now owns 882 shares of the industrial products company's stock valued at $224,000 after purchasing an additional 66 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

NYSE ITW traded up $7.67 during midday trading on Monday, hitting $250.17. The company had a trading volume of 1,142,486 shares, compared to its average volume of 1,018,167. The company has a market capitalization of $73.30 billion, a PE ratio of 21.35, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $243.34 and a 200-day moving average price of $255.87. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.40%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Truist Financial dropped their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a report on Wednesday, May 7th. Finally, Barclays lowered their target price on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $253.67.

Insider Activity

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company's stock.

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.