B. Metzler seel. Sohn & Co. AG Acquires 8,658 Shares of Illinois Tool Works Inc. (NYSE:ITW)

B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 40.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,273 shares of the industrial products company's stock after acquiring an additional 8,658 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Illinois Tool Works were worth $7,677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Illinois Tool Works by 4.1% during the third quarter. FMR LLC now owns 998,459 shares of the industrial products company's stock valued at $261,666,000 after purchasing an additional 39,445 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Illinois Tool Works by 17.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company's stock worth $2,108,000 after purchasing an additional 1,200 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Illinois Tool Works by 9.9% in the 3rd quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company's stock valued at $10,405,000 after buying an additional 3,581 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of Illinois Tool Works by 2.7% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company's stock valued at $745,000 after buying an additional 76 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after buying an additional 106 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

ITW has been the subject of a number of analyst reports. Evercore ISI decreased their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Finally, StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $268.30.

Insider Buying and Selling

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

NYSE ITW traded down $13.27 on Thursday, reaching $239.16. The stock had a trading volume of 1,492,433 shares, compared to its average volume of 982,646. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. 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 cap of $70.16 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The firm has a fifty day moving average of $257.87 and a two-hundred day moving average of $260.75.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Illinois Tool Works Company 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.