Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Schroder Investment Management Group

Schroder Investment Management Group grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,721,920 shares of the industrial products company's stock after buying an additional 205,327 shares during the period. Schroder Investment Management Group owned 0.58% of Illinois Tool Works worth $436,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ITW. Vanguard Group Inc. boosted its position in shares of Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after acquiring an additional 94,601 shares during the last quarter. State Street Corp lifted its holdings in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after acquiring an additional 149,272 shares during the last quarter. Geode Capital Management LLC grew its position in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after acquiring an additional 167,422 shares in the last quarter. Fisher Asset Management LLC raised its position in Illinois Tool Works by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after purchasing an additional 95,925 shares during the period. Finally, Norges Bank purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $806,291,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ITW. Barclays cut their target price on Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Truist Financial lifted their price target 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. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $268.30.

Illinois Tool Works Stock Down 3.5 %

Shares of ITW stock traded down $8.79 on Thursday, hitting $243.64. The stock had a trading volume of 553,497 shares, compared to its average volume of 979,009. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business has a 50 day moving average price of $257.87 and a 200 day moving average price of $260.75. The company has a market cap of $71.48 billion, a PE ratio of 20.79, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly 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%. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.46%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction 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 directly 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 a total of 159,925 shares of company stock valued at $42,973,845 over the last quarter. 0.88% of the stock is owned by corporate insiders.

About Illinois Tool Works

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.