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

Siemens Fonds Invest GmbH decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 94.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other large investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 84 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works in the fourth quarter worth about $31,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 1.4%

Shares of Illinois Tool Works stock opened at $251.33 on Monday. The company has a market cap of $73.64 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company's 50 day moving average is $241.76 and its 200 day moving average is $255.54. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. 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 (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm's revenue was down 3.4% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. Illinois Tool Works's dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. UBS Group dropped 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. Truist Financial dropped their target price on shares of 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. Finally, Robert W. Baird upped their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note 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 stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus price target of $253.67.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares of the company's stock, valued at $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. 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.

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