Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Flossbach Von Storch AG

Flossbach Von Storch AG increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,222 shares of the industrial products company's stock after purchasing an additional 34,228 shares during the period. Flossbach Von Storch AG owned 0.08% of Illinois Tool Works worth $62,924,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITW. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $26,000. Financial Connections Group Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $28,000. Briaud Financial Planning Inc acquired a new stake in shares of Illinois Tool Works in the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.7 %

Shares of ITW traded down $1.67 during mid-day trading on Wednesday, hitting $249.54. The company had a trading volume of 845,250 shares, compared to its average volume of 1,248,706. The business's 50-day simple moving average is $260.75 and its 200-day simple moving average is $250.66. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The stock has a market cap of $74.55 billion, a PE ratio of 25.62, a P/E/G ratio of 3.73 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.98 billion for 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 was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works's dividend payout ratio (DPR) is 57.49%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company cut shares of Illinois Tool Works from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays raised their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an "underweight" rating in a report on Tuesday, April 2nd. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a "hold" rating in a report on Wednesday. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 price target for the company. Finally, Citigroup lifted their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $257.00.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company's stock, valued at $56,321,252.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction on 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 owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company's stock, valued at approximately $56,321,252.45. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last ninety days. Corporate insiders own 1.26% 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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