DekaBank Deutsche Girozentrale Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

DekaBank Deutsche Girozentrale increased its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,825 shares of the industrial products company's stock after purchasing an additional 33,488 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.13% of Illinois Tool Works worth $90,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ITW. F M Investments LLC boosted its position in Illinois Tool Works by 4.9% during the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after purchasing an additional 42 shares during the period. Trust Co of the South raised its stake in Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock worth $367,000 after acquiring an additional 42 shares in the last quarter. Harbour Investments Inc. raised its stake in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after acquiring an additional 44 shares in the last quarter. Integrated Advisors Network LLC increased its stake in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after buying an additional 45 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Evercore ISI lowered their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Barclays upped their price target on Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Truist Financial dropped their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research note on Wednesday, May 7th. Finally, Citigroup lowered their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and a consensus target price of $252.83.

Illinois Tool Works Stock Performance

NYSE:ITW traded down $2.41 during mid-day trading on Friday, hitting $259.71. 745,703 shares of the company traded hands, compared to its average volume of 998,111. The stock's fifty day moving average price is $247.49 and its 200-day moving average price is $249.48. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. The firm has a market cap of $76.10 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. Research 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 company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a $1.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.31%. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.77%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the acquisition, the director owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

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.