Flossbach Von Storch SE Sells 23,085 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Flossbach Von Storch SE decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 277,675 shares of the industrial products company's stock after selling 23,085 shares during the quarter. Flossbach Von Storch SE owned 0.09% of Illinois Tool Works worth $68,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Illinois Tool Works in the first quarter valued at approximately $26,000. Finally, Glass Jacobson Investment Advisors llc lifted 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 buying an additional 84 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group dropped their price target on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America lowered 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. Truist Financial lowered their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company upped their target price on Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup lowered their target price 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $252.83.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $3.89 during trading on Thursday, reaching $263.64. The company's stock had a trading volume of 471,733 shares, compared to its average volume of 1,110,725. The firm has a market cap of $77.25 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 5.46 and a beta of 1.09. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm has a 50 day moving average of $246.68 and a 200-day moving average of $249.52. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted 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. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.28%. Illinois Tool Works's payout ratio is currently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction on Monday, June 2nd. The shares were purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the acquisition, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by 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.