Raiffeisen Bank International AG Purchases Shares of 2,655 Illinois Tool Works Inc. (NYSE:ITW)

Raiffeisen Bank International AG purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,655 shares of the industrial products company's stock, valued at approximately $677,000.

Several other large investors have also recently bought and sold shares of the stock. Fermata Advisors LLC lifted its holdings in Illinois Tool Works by 18.3% during the 4th quarter. Fermata Advisors LLC now owns 1,345 shares of the industrial products company's stock worth $341,000 after purchasing an additional 208 shares during the last quarter. Procyon Advisors LLC increased its position in Illinois Tool Works by 6.3% during the 4th quarter. Procyon Advisors LLC now owns 1,711 shares of the industrial products company's stock worth $434,000 after buying an additional 102 shares during the period. Merit Financial Group LLC lifted its holdings in shares of Illinois Tool Works by 22.4% during the fourth quarter. Merit Financial Group LLC now owns 8,242 shares of the industrial products company's stock worth $2,090,000 after buying an additional 1,509 shares in the last quarter. Somerset Trust Co lifted its holdings in shares of Illinois Tool Works by 2.4% during the fourth quarter. Somerset Trust Co now owns 19,284 shares of the industrial products company's stock worth $4,890,000 after buying an additional 461 shares in the last quarter. Finally, Carderock Capital Management Inc. boosted its position in shares of Illinois Tool Works by 0.6% in the fourth quarter. Carderock Capital Management Inc. now owns 21,358 shares of the industrial products company's stock valued at $5,416,000 after acquiring an additional 134 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Shares of ITW traded down $3.22 during midday trading on Friday, hitting $241.49. The company's stock had a trading volume of 256,385 shares, compared to its average volume of 1,163,295. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock has a market capitalization of $70.76 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company's fifty day simple moving average is $241.32 and its two-hundred day simple moving average is $255.21.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating 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 return on equity of 95.39% and a net margin of 21.94%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 earnings per share. As a group, equities analysts expect 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. Investors of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is 52.77%.

Insider Buying and Selling at Illinois Tool Works

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

Analysts Set New Price Targets

Several analysts have weighed in on ITW shares. Wall Street Zen cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Truist Financial dropped their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Robert W. Baird increased their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $253.42.

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.