11,250 Illinois Tool Works Inc. $ITW Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,349 shares of the industrial products company’s stock after selling 11,250 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Illinois Tool Works were worth $40,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in Illinois Tool Works by 3.6% in the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 95,935 shares of the industrial products company’s stock valued at $24,682,000 after buying an additional 3,369 shares during the period. R Squared Ltd increased its stake in shares of Illinois Tool Works by 55.9% during the 3rd quarter. R Squared Ltd now owns 1,936 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 694 shares during the last quarter. Endeavor Private Wealth Inc. lifted its holdings in shares of Illinois Tool Works by 40.8% during the 3rd quarter. Endeavor Private Wealth Inc. now owns 2,233 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 647 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of Illinois Tool Works by 13.3% in the third quarter. Maryland State Retirement & Pension System now owns 17,568 shares of the industrial products company’s stock worth $4,520,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Illinois Tool Works by 5.3% in the third quarter. Ritholtz Wealth Management now owns 9,224 shares of the industrial products company’s stock worth $2,373,000 after acquiring an additional 468 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $287.33 on Friday. The stock’s 50 day moving average price is $273.26 and its 200 day moving average price is $272.11. The firm has a market capitalization of $81.66 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.03. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 103.35%. Illinois Tool Works’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $2.81 earnings per share. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 11.49 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $1.72 dividend. The ex-dividend date is Thursday, December 31st. This represents a $6.88 annualized dividend and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 61.32%.

Analysts Set New Price Targets

ITW has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $293.00 price target (down from $297.00) on shares of Illinois Tool Works in a research report on Wednesday, October 28th. Weiss Ratings upgraded shares of Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. The Goldman Sachs Group reissued a “sell” rating and set a $270.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, October 27th. JPMorgan Chase & Co. downgraded Illinois Tool Works from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $350.00 to $270.00 in a report on Friday, October 9th. Finally, Citigroup cut their target price on Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 28th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $276.33.

Insiders Place Their Bets

In related news, Director Ernest Santi sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the completion of the sale, the director directly owned 266,333 shares of the company’s stock, valued at approximately $78,000,945.71. This trade represents a 18.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Illinois Tool Works Profile

Illinois Tool Works Inc. (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions. ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.