Caisse Des Depots ET Consignations Takes $1.17 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Caisse Des Depots ET Consignations acquired a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,622 shares of the industrial products company's stock, valued at approximately $1,172,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction dated Friday, March 7th. The shares were 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 directly owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. The trade was a 21.20 % 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 90 days. 0.88% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ITW shares. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $268.30.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $1.51 during trading hours on Tuesday, hitting $249.52. The stock had a trading volume of 272,873 shares, compared to its average volume of 1,070,432. 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 firm has a market capitalization of $73.20 billion, a PE ratio of 21.29, a PEG ratio of 4.56 and a beta of 1.13. The stock's 50 day moving average is $258.24 and its 200 day moving average is $260.83. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's payout ratio is currently 51.19%.

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.