Quintet Private Bank Europe S.A. Takes $41,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Quintet Private Bank Europe S.A. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 160 shares of the industrial products company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $129,000. Jones Financial Companies Lllp grew its holdings in Illinois Tool Works by 30.1% in the fourth quarter. Jones Financial Companies Lllp now owns 73,256 shares of the industrial products company’s stock worth $18,575,000 after purchasing an additional 16,930 shares during the last quarter. Modera Wealth Management LLC grew its holdings in Illinois Tool Works by 5.0% in the fourth quarter. Modera Wealth Management LLC now owns 5,643 shares of the industrial products company’s stock worth $1,431,000 after purchasing an additional 271 shares during the last quarter. Bailard Inc. grew its holdings in Illinois Tool Works by 0.4% in the fourth quarter. Bailard Inc. now owns 14,098 shares of the industrial products company’s stock worth $3,575,000 after purchasing an additional 57 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Illinois Tool Works by 22.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,899 shares of the industrial products company’s stock worth $1,758,000 after purchasing an additional 1,269 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.8 %

Shares of NYSE ITW opened at $261.96 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a market cap of $76.89 billion, a PE ratio of 22.35, a P/E/G ratio of 4.56 and a beta of 1.11. The company has a 50-day moving average of $257.09 and a 200 day moving average of $259.57. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ITW shares. Wells Fargo & Company lowered their price objective 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. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI decreased their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research report on Wednesday, February 19th. Citigroup decreased their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $269.30.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

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.