DekaBank Deutsche Girozentrale boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,819 shares of the industrial products company’s stock after purchasing an additional 28,171 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Illinois Tool Works were worth $28,236,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $26,000. Diversified LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $27,000. MPS Loria Financial Planners LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. Exchange Traded Concepts LLC raised its stake in shares of Illinois Tool Works by 259.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 176 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Finally, Retirement Group LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $37,000. 77.44% of the stock is currently owned by institutional investors.
NYSE ITW opened at $219.95 on Thursday. Illinois Tool Works Inc. has a one year low of $148.27 and a one year high of $228.77. The company has a 50-day simple moving average of $213.43 and a 200-day simple moving average of $205.68. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.92 and a current ratio of 2.37. The firm has a market capitalization of $69.61 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 3.88 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Tuesday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.84%.
ITW has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Illinois Tool Works from a “sell” rating to a “neutral” rating and raised their target price for the company from $195.00 to $217.00 in a research note on Tuesday, January 19th. Morgan Stanley raised their target price on shares of Illinois Tool Works from $176.00 to $180.00 and gave the company an “underweight” rating in a research note on Monday, February 8th. Barclays lifted their price target on shares of Illinois Tool Works from $207.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Vertical Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday, January 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Illinois Tool Works from $96.00 to $206.00 and gave the stock a “hold” rating in a research note on Monday, February 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $204.41.
In other Illinois Tool Works news, VP Norman D. Jr. Finch sold 7,232 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the business’s stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the transaction, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at $60,619,473.64. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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