Commerzbank Aktiengesellschaft FI Trims Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Commerzbank Aktiengesellschaft FI cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,279 shares of the industrial products company’s stock after selling 466 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Illinois Tool Works were worth $2,620,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC increased its stake in shares of Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after buying an additional 437,397 shares during the last quarter. Franklin Resources Inc. increased its position 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 worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Illinois Tool Works by 318.9% in 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 purchasing an additional 308,935 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after purchasing an additional 165,607 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

Shares of ITW opened at $261.96 on Tuesday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The stock’s fifty day moving average is $257.09 and its 200-day moving average is $259.57. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market capitalization of $76.89 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share 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%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company 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 dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

A number of research firms have commented on ITW. Evercore ISI reduced their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on 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. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $269.30.

Illinois Tool Works Company 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.