Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by National Pension Service

National Pension Service raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 507,870 shares of the industrial products company's stock after purchasing an additional 9,724 shares during the quarter. National Pension Service owned 0.17% of Illinois Tool Works worth $133,031,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ITW. Tokio Marine Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 1.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company's stock valued at $1,590,000 after acquiring an additional 84 shares in the last quarter. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $4,180,000. Wesbanco Bank Inc. lifted its position in shares of Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company's stock worth $1,401,000 after purchasing an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC acquired a new position in Illinois Tool Works in the fourth quarter worth about $224,000. Finally, Tyche Wealth Partners LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at about $2,972,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, May 1st. Barclays dropped their target price on shares of Illinois Tool Works from $230.00 to $229.00 and set an "underweight" rating on the stock in a report on Thursday, May 2nd. StockNews.com raised shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Wednesday, May 1st. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $257.78.

Insider Activity at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares of the company's stock, valued at approximately $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business'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 sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares of the company's stock, valued at $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 89,471 shares of company stock worth $23,248,816 over the last quarter. 1.26% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded up $0.26 during midday trading on Wednesday, hitting $247.40. 617,090 shares of the company's stock were exchanged, compared to its average volume of 1,239,335. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market cap of $73.82 billion, a P/E ratio of 24.40, a PEG ratio of 3.59 and a beta of 1.14. The stock's 50 day moving average price is $258.17 and its 200-day moving average price is $252.34.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.09. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $2.33 earnings per share. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.29 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, June 28th. Illinois Tool Works's dividend payout ratio (DPR) is presently 55.23%.

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.

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