Schroder Investment Management Group Raises Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Schroder Investment Management Group boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITWFree Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,113 shares of the industrial products company’s stock after buying an additional 99,175 shares during the quarter. Schroder Investment Management Group owned 0.34% of Illinois Tool Works worth $262,232,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted 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 purchasing an additional 1,238,239 shares in the last quarter. Northern Trust Corp lifted its stake in Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after acquiring an additional 244,145 shares in the last quarter. Norges Bank purchased a new position in Illinois Tool Works during the 4th quarter valued at about $818,408,000. Fisher Asset Management LLC grew its position in Illinois Tool Works by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock valued at $773,234,000 after acquiring an additional 122,840 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Illinois Tool Works by 1.3% during the third quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock worth $401,352,000 after purchasing an additional 22,238 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Barclays reduced their price objective on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a report on Tuesday. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Wednesday. Truist Financial upped their target price on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $256.44.

Get Our Latest Analysis on Illinois Tool Works

Illinois Tool Works Price Performance

NYSE:ITW traded down $0.55 during trading hours on Friday, hitting $240.42. The company’s stock had a trading volume of 670,937 shares, compared to its average volume of 988,074. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The business’s 50-day moving average is $249.04 and its two-hundred day moving average is $254.32. The company has a market capitalization of $71.74 billion, a PE ratio of 23.71, a PEG ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITWGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works’s payout ratio is 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works 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 owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

About Illinois Tool Works

(Free Report)

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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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