Cibc World Markets Corp Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cibc World Markets Corp lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,675 shares of the industrial products company's stock after buying an additional 5,380 shares during the quarter. Cibc World Markets Corp's holdings in Illinois Tool Works were worth $11,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% during the 3rd 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 period. Ulland Investment Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $33,000. Hager Investment Management Services LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $37,000. Finally, Asset Planning Inc acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $2.31 during mid-day trading on Friday, reaching $251.05. 1,565,940 shares of the company's stock were exchanged, compared to its average volume of 933,723. The firm has a market capitalization of $73.68 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week 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 firm has a 50-day moving average price of $258.48 and a two-hundred day moving average price of $260.38.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed 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 2.39%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Analyst Ratings Changes

Several research firms recently issued reports on ITW. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an "equal weight" rating in a research report on Monday, March 10th. Wells Fargo & Company reduced 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. Finally, Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned 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, the company has a consensus rating of "Hold" and an average price target of $269.10.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company's stock.

Illinois Tool Works 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.