Handelsbanken Fonder AB Purchases 6,742 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Handelsbanken Fonder AB boosted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,737 shares of the industrial products company's stock after buying an additional 6,742 shares during the period. Handelsbanken Fonder AB owned approximately 0.05% of Illinois Tool Works worth $38,474,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ITW. Nikulski Financial Inc. boosted its position in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 39 shares in the last quarter. Baron Wealth Management LLC lifted its stake in Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock valued at $231,000 after buying an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock worth $423,000 after buying an additional 40 shares in the last quarter. Sigma Planning Corp grew its position in shares of Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after buying an additional 41 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock valued at $957,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ITW. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. 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. Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. cut their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $269.30.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Down 0.5 %

Shares of Illinois Tool Works stock traded down $1.25 on Friday, hitting $264.30. The company 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 company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a 50 day moving average of $257.23 and a 200-day moving average of $258.12. The stock has a market capitalization of $77.57 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 4.52 and a beta of 1.11.

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 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, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's payout ratio 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.