Franklin Resources Inc. Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Franklin Resources Inc. boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,430,935 shares of the industrial products company's stock after buying an additional 60,681 shares during the quarter. Franklin Resources Inc. owned approximately 0.48% of Illinois Tool Works worth $362,828,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ITW. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at $28,000. True Wealth Design LLC increased its position in 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 worth $30,000 after buying an additional 106 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at $31,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $268.30.

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Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value 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 $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 in the last quarter. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded down $13.27 on Thursday, reaching $239.16. The company's stock had a trading volume of 1,492,433 shares, compared to its average volume of 982,646. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The stock's 50 day simple moving average is $257.87 and its 200-day simple moving average is $260.75. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $70.16 billion, a P/E ratio of 20.41, a PEG ratio of 4.56 and a beta of 1.13.

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

Illinois Tool Works Announces Dividend

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