Skandinaviska Enskilda Banken AB publ Has $14.82 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 59,766 shares of the industrial products company’s stock after selling 100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Illinois Tool Works were worth $14,823,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ITW. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter valued at $26,000. Finally, Glass Jacobson Investment Advisors llc boosted its stake in shares of Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the subject of a number of research reports. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their price target on shares of Illinois Tool Works from $230.00 to $235.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Barclays lifted their price objective on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Truist Financial decreased their price objective on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.67.

Illinois Tool Works Trading Up 0.0%

Shares of NYSE:ITW opened at $261.87 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm has a fifty day moving average price of $250.18 and a 200 day moving average price of $249.90. The stock has a market capitalization of $76.73 billion, a PE ratio of 23.03, a P/E/G ratio of 5.52 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last released its quarterly 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 21.37% and a return on equity of 92.77%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 52.77%.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director directly owned 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

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.