Flossbach Von Storch SE Has $76.26 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Flossbach Von Storch SE lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 34.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,760 shares of the industrial products company’s stock after purchasing an additional 77,164 shares during the period. Flossbach Von Storch SE’s holdings in Illinois Tool Works were worth $76,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Nikulski Financial Inc. boosted its holdings in Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the period. Baron Wealth Management LLC increased its position in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $264.04 on Thursday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $77.50 billion, a P/E ratio of 22.53, a PEG ratio of 4.49 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a 50-day moving average price of $257.39 and a 200-day moving average price of $258.07.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.41 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $269.30.

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.