Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by APG Asset Management N.V.

APG Asset Management N.V. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 963.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,700 shares of the industrial products company’s stock after purchasing an additional 147,401 shares during the period. APG Asset Management N.V. owned approximately 0.06% of Illinois Tool Works worth $39,840,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth about $25,000. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the 4th quarter worth approximately $28,000. Millstone Evans Group LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. Atlantic Private Wealth LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth $33,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction 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 sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock worth $42,973,845 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $217.33 on Wednesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a fifty day moving average price of $254.29 and a two-hundred day moving average price of $259.67. The company has a market cap of $63.76 billion, a PE ratio of 18.54, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Evercore ISI dropped their price objective 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. Finally, Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $265.18.

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.