DekaBank Deutsche Girozentrale Buys 38,287 Shares of Illinois Tool Works Inc. (NYSE:ITW)

DekaBank Deutsche Girozentrale increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,383 shares of the industrial products company's stock after purchasing an additional 38,287 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.13% of Illinois Tool Works worth $98,512,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $29,000. Quarry LP raised its holdings in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company's stock worth $35,000 after purchasing an additional 49 shares during the period. Arlington Trust Co LLC acquired a new stake in Illinois Tool Works in the third quarter worth $38,000. Finally, Carmichael Hill & Associates Inc. raised its holdings in Illinois Tool Works by 3,400.0% in the fourth quarter. Carmichael Hill & Associates Inc. now owns 175 shares of the industrial products company's stock worth $46,000 after purchasing an additional 170 shares during the period. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ITW. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a "buy" rating and a $301.00 target price on the stock. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays raised their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an "underweight" rating in a report on Tuesday. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a "hold" rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $246.10.

Illinois Tool Works Stock Up 0.4 %

Illinois Tool Works stock traded up $1.16 during mid-day trading on Friday, reaching $262.94. The company's stock had a trading volume of 908,509 shares, compared to its average volume of 1,577,191. The company has a market capitalization of $78.55 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.85 and a beta of 1.13. Illinois Tool Works Inc. has a 12 month low of $217.06 and a 12 month high of $271.15. The business's 50 day simple moving average is $261.09 and its 200 day simple moving average is $249.34. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $2.34 earnings per share. The firm's revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works's dividend payout ratio (DPR) is presently 57.49%.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now owns 8,870 shares of the company's stock, valued at approximately $2,273,292.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the sale, the chief accounting officer now owns 8,870 shares of the company's stock, valued at approximately $2,273,292.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares of the company's stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 in the last quarter. Company 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.