Illinois Tool Works Inc. (NYSE:ITW) Holdings Lifted by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 659,207 shares of the industrial products company’s stock after buying an additional 52,993 shares during the period. Deutsche Bank AG owned approximately 0.22% of Illinois Tool Works worth $167,149,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Clark & Stuart Inc acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $1,729,000. Czech National Bank raised its position in shares of Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after buying an additional 3,227 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Illinois Tool Works by 31.6% in the 4th quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company’s stock worth $3,976,000 after acquiring an additional 3,765 shares during the period. Clarity Financial LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $315,000. Finally, Flywheel Private Wealth LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $263,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In related news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ITW shares. Truist Financial decreased their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays lowered their target price on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective on the stock. in a research note on Wednesday. Finally, Evercore ISI reduced their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $253.67.

Illinois Tool Works Price Performance

Shares of ITW opened at $242.40 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market capitalization of $71.11 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 4.56 and a beta of 1.12. The business’s 50-day moving average is $243.34 and its 200-day moving average is $255.87. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (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 company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the business posted $2.44 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. Illinois Tool Works’s dividend payout ratio is currently 52.77%.

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.