denkapparat Operations GmbH Makes New $211,000 Investment in Illinois Tool Works Inc. (NYSE:ITW)

denkapparat Operations GmbH bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 834 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also made changes to their positions in ITW. Norges Bank acquired a new position in Illinois Tool Works in the 4th quarter worth $806,291,000. Raymond James Financial Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth about $203,949,000. Proficio Capital Partners LLC grew its stake in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after purchasing an additional 437,397 shares in the last quarter. Franklin Resources Inc. raised 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 valued at $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake 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 during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $246.34 on Friday. The stock has a market cap of $72.30 billion, a P/E ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13. The firm’s 50-day simple moving average is $258.40 and its 200 day simple moving average is $260.64. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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 expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ITW shares. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Citigroup reduced their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $268.30.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the business’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 sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. 1.26% of the stock is currently owned by corporate insiders.

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.