Siemens Fonds Invest GmbH Sells 9,351 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Siemens Fonds Invest GmbH lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 94.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 512 shares of the industrial products company's stock after selling 9,351 shares during the period. Siemens Fonds Invest GmbH's holdings in Illinois Tool Works were worth $130,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the period. Northern Trust Corp increased its position in shares of Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after buying an additional 508,188 shares during the period. Geode Capital Management LLC raised its stake in Illinois Tool Works by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock worth $1,620,491,000 after buying an additional 99,753 shares during the last quarter. Capital Research Global Investors lifted its holdings in Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after buying an additional 71,934 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after acquiring an additional 95,925 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ITW shares. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Wall Street Zen lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Truist Financial lowered their price objective on shares of 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. Finally, UBS Group cut their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $253.42.

Insider Buying and Selling at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the business'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 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 represents a 46.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Down 1.0%

Shares of NYSE ITW traded down $2.51 during mid-day trading on Monday, reaching $242.57. 977,611 shares of the company's stock traded hands, compared to its average volume of 1,012,335. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business has a 50-day simple moving average of $240.10 and a 200 day simple moving average of $253.82. The stock has a market cap of $71.07 billion, a P/E ratio of 20.70, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly 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 business 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 95.39% and a net margin of 21.94%. The company's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is currently 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.