1,047,500 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Flossbach Von Storch AG

Flossbach Von Storch AG purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,047,500 shares of the industrial products company’s stock, valued at approximately $148,871,000. Illinois Tool Works accounts for approximately 1.0% of Flossbach Von Storch AG’s holdings, making the stock its 24th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in ITW. CFM Wealth Partners LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $25,000. Stonebridge Financial Planning Group LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in Illinois Tool Works in the first quarter valued at approximately $51,000. Veritas Investment Management LLP acquired a new position in Illinois Tool Works in the first quarter valued at approximately $51,000. Finally, Filbrandt Wealth Management LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at approximately $52,000. 79.23% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on ITW shares. Northcoast Research raised Illinois Tool Works from a “sell” rating to a “neutral” rating in a report on Friday, May 8th. Credit Suisse Group decreased their price objective on Illinois Tool Works from $151.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Zacks Investment Research downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $167.00 price objective for the company. in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price objective on Illinois Tool Works from $160.00 to $156.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Gordon Haskett downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price target for the company. in a report on Friday, May 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $157.82.

In other news, CEO Ernest Scott Santi purchased 6,300 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $158.42 per share, for a total transaction of $998,046.00. Following the completion of the transaction, the chief executive officer now directly owns 141,994 shares in the company, valued at approximately $22,494,689.48. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard H. Lenny purchased 1,575 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average price of $159.19 per share, with a total value of $250,724.25. The disclosure for this purchase can be found here. Company insiders own 0.79% of the company’s stock.

Shares of ITW stock traded down $0.35 during mid-day trading on Friday, reaching $163.75. The stock had a trading volume of 727,170 shares, compared to its average volume of 1,448,303. Illinois Tool Works Inc. has a 12-month low of $115.94 and a 12-month high of $190.85. The company has a market cap of $51.84 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 4.13 and a beta of 1.16. The business has a 50-day simple moving average of $156.32 and a 200 day simple moving average of $168.68. The company has a current ratio of 2.71, a quick ratio of 2.13 and a debt-to-equity ratio of 3.37.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.06. Illinois Tool Works had a return on equity of 87.33% and a net margin of 18.06%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works Inc. will post 5.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Monday, June 29th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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