Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 68,603 shares of the industrial products company’s stock after selling 4,208 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Illinois Tool Works were worth $17,970,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ITW. Vanguard Group Inc. boosted its stake in Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares during the period. Northern Trust Corp lifted its position in shares of Illinois Tool Works by 1.9% during the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after purchasing an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Illinois Tool Works by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after purchasing an additional 97,568 shares in the last quarter. Stifel Financial Corp raised its holdings in Illinois Tool Works by 1.3% in the third quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock valued at $401,352,000 after acquiring an additional 22,238 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in Illinois Tool Works by 150.0% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock valued at $48,712,316 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ITW. Barclays boosted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Citigroup boosted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $257.00.

Illinois Tool Works Trading Up 0.0 %

Shares of ITW stock traded up $0.07 during trading hours on Friday, hitting $248.23. 947,179 shares of the company were exchanged, compared to its average volume of 1,241,645. The firm has a market cap of $74.16 billion, a PE ratio of 25.55, a PEG ratio of 3.70 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The firm has a fifty day moving average of $260.16 and a 200 day moving average of $251.28.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.34 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

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.