Illinois Tool Works Inc. (NYSE:ITW) Stock Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,945 shares of the industrial products company’s stock after purchasing an additional 890 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Illinois Tool Works were worth $9,048,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. PDS Planning Inc increased its stake in Illinois Tool Works by 5.7% during the 4th quarter. PDS Planning Inc now owns 2,357 shares of the industrial products company’s stock valued at $598,000 after buying an additional 127 shares during the period. Cibc World Markets Corp increased its stake in Illinois Tool Works by 14.0% during the 4th quarter. Cibc World Markets Corp now owns 43,675 shares of the industrial products company’s stock valued at $11,074,000 after buying an additional 5,380 shares during the period. SouthState Corp increased its stake in Illinois Tool Works by 2.0% during the 4th quarter. SouthState Corp now owns 3,632 shares of the industrial products company’s stock valued at $921,000 after buying an additional 70 shares during the period. SlateStone Wealth LLC increased its stake in Illinois Tool Works by 3.4% during the 4th quarter. SlateStone Wealth LLC now owns 7,283 shares of the industrial products company’s stock valued at $1,847,000 after buying an additional 240 shares during the period. Finally, GWN Securities Inc. acquired a new position in Illinois Tool Works during the 4th quarter valued at about $233,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 0.9 %

ITW stock opened at $251.05 on Friday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company’s 50 day simple moving average is $258.48 and its 200-day simple moving average is $260.46. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market capitalization of $73.68 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

Several research firms have commented on ITW. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $269.10.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Profile

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.