Allianz SE Invests $181,000 in Illinois Tool Works Inc. (NYSE:ITW)

Allianz SE purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 710 shares of the industrial products company’s stock, valued at approximately $181,000.

A number of other large investors have also recently added to or reduced their stakes in ITW. FMR LLC increased its holdings in shares of Illinois Tool Works by 4.1% in the 3rd quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock valued at $261,666,000 after acquiring an additional 39,445 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Illinois Tool Works by 17.5% in the third quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock worth $2,108,000 after purchasing an additional 1,200 shares during the period. Captrust Financial Advisors increased its stake in Illinois Tool Works by 9.9% during the third quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock valued at $10,405,000 after purchasing an additional 3,581 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company’s stock worth $745,000 after purchasing an additional 76 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

NYSE:ITW opened at $248.31 on Tuesday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. 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 firm has a market cap of $72.84 billion, a P/E ratio of 21.19, a PEG ratio of 4.56 and a beta of 1.13. The business’s 50-day moving average price is $258.24 and its 200 day moving average price is $260.83.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is 51.19%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works 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 transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock valued at $42,973,845 over the last three months. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Finally, Barclays reduced their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $268.30.

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.