B. Metzler seel. Sohn & Co. Holding AG Buys New Holdings in Illinois Tool Works Inc. (NYSE:ITW)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,615 shares of the industrial products company's stock, valued at approximately $5,665,000.

A number of other large investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company's stock valued at $1,171,006,000 after purchasing an additional 51,654 shares during the period. Legal & General Group Plc lifted its position in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock worth $640,425,000 after acquiring an additional 62,645 shares during the period. Dimensional Fund Advisors LP lifted its position in Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company's stock worth $361,998,000 after acquiring an additional 133,853 shares during the period. Guinness Asset Management LTD lifted its position in Illinois Tool Works by 4.6% during the 3rd quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company's stock worth $210,447,000 after acquiring an additional 35,145 shares during the period. Finally, ProShare Advisors LLC lifted its position in Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company's stock worth $176,047,000 after acquiring an additional 50,753 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

NYSE ITW traded down $0.08 during mid-day trading on Wednesday, hitting $266.38. The stock had a trading volume of 798,486 shares, compared to its average volume of 1,052,844. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.58. The company has a market cap of $78.66 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 4.19 and a beta of 1.10. The company has a 50 day simple moving average of $261.33 and a 200 day simple moving average of $249.46. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's payout ratio is 51.90%.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of recent research reports. Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Argus raised Illinois Tool Works to a "strong-buy" rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Finally, Robert W. Baird increased their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $257.30.

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.