Invesco Ltd. Purchases 77,626 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Invesco Ltd. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,943,570 shares of the industrial products company's stock after buying an additional 77,626 shares during the quarter. Invesco Ltd. owned 0.66% of Illinois Tool Works worth $492,812,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $25,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth $28,000. Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth about $31,000. Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at $33,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report 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 target price on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a research report on Monday. Finally, UBS Group reduced their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $261.18.

Illinois Tool Works Stock Performance

ITW traded up $1.54 during trading on Monday, hitting $233.86. The stock had a trading volume of 176,743 shares, compared to its average volume of 1,003,610. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market cap of $68.61 billion, a PE ratio of 19.95, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a 50 day simple moving average of $252.30 and a 200-day simple moving average of $258.93.

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, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.57%. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related 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 value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the business's 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 of the company's stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

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.