Czech National Bank Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Czech National Bank lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,265 shares of the industrial products company’s stock after buying an additional 3,227 shares during the quarter. Czech National Bank’s holdings in Illinois Tool Works were worth $14,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC lifted its position in Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after buying an additional 322,192 shares during the period. National Bank of Canada FI boosted its holdings in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares in the last quarter. AXA S.A. grew its position in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after acquiring an additional 167,422 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $249.41 on Tuesday. The firm has a market capitalization of $73.65 billion, a P/E ratio of 21.58, a PEG ratio of 4.22 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The business has a fifty day moving average of $265.62 and a 200 day moving average of $255.18.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Citigroup lowered their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays dropped their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial raised their price target 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $270.11.

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.