Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 90.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 599 shares of the industrial products company’s stock after purchasing an additional 285 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Illinois Tool Works were worth $158,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $4,180,000. Wesbanco Bank Inc. boosted its stake in shares of Illinois Tool Works by 23.4% in the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $224,000. DNB Asset Management AS lifted its position in Illinois Tool Works by 8.0% during the fourth quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after buying an additional 10,062 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new position in Illinois Tool Works during the fourth quarter worth approximately $2,972,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ITW shares. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial started coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Barclays lifted their target price on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus lifted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $257.00.

Insider Activity at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Price Performance

ITW stock opened at $248.83 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $74.34 billion, a PE ratio of 25.55, a P/E/G ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The business’s fifty day moving average price is $260.64 and its 200 day moving average price is $250.65.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 EPS. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio is presently 57.49%.

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.