International Assets Investment Management LLC Has $82.58 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

International Assets Investment Management LLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 23,183.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 315,260 shares of the industrial products company's stock after acquiring an additional 313,906 shares during the period. International Assets Investment Management LLC owned about 0.10% of Illinois Tool Works worth $82,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ITW. Moneta Group Investment Advisors LLC lifted its position in shares of Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company's stock valued at $1,582,902,000 after acquiring an additional 7,178,474 shares during the last quarter. Norges Bank acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $708,259,000. Morgan Stanley raised its stake in Illinois Tool Works by 59.2% during the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company's stock valued at $1,011,459,000 after purchasing an additional 1,707,780 shares during the period. Vanguard Group Inc. raised its stake in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company's stock valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its stake in Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company's stock valued at $294,671,000 after purchasing an additional 675,000 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ITW shares. Barclays boosted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an "underweight" rating in a research note on Tuesday, April 2nd. Truist Financial started coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a "hold" rating in a research note on Tuesday, January 23rd. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and cut their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Citigroup upped their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a "neutral" rating in a research note on Monday, December 11th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus target price of $246.10.

Insider Buying and Selling

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael M. Larsen sold 37,167 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value 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 $12,299,844.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Up 0.4 %

NYSE:ITW traded up $1.16 during trading hours 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 cap of $78.55 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.87 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The business's 50-day moving average is $261.09 and its 200-day moving average is $249.44. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. Equities research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

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

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.