Flossbach Von Storch SE Has $76.26 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Flossbach Von Storch SE lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 34.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,760 shares of the industrial products company's stock after purchasing an additional 77,164 shares during the period. Flossbach Von Storch SE owned approximately 0.10% of Illinois Tool Works worth $76,261,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC lifted its stake in shares of 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 valued at $30,000 after acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the third quarter valued at about $32,000. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth about $35,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays reduced their price target on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Finally, Evercore ISI dropped their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $269.30.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Down 0.5 %

NYSE:ITW traded down $1.25 on Friday, reaching $264.30. The company's stock had a trading volume of 918,393 shares, compared to its average volume of 965,335. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The business's 50-day moving average price is $257.23 and its two-hundred day moving average price is $258.12. The firm has a market cap of $77.57 billion, a PE ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.41 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. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's payout ratio is presently 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.