Generali Investments Management Co LLC Takes $4.27 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Generali Investments Management Co LLC bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,834 shares of the industrial products company’s stock, valued at approximately $4,268,000. Illinois Tool Works makes up 1.1% of Generali Investments Management Co LLC’s investment portfolio, making the stock its 23rd biggest position.

Other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC lifted its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $33,000. Hager Investment Management Services LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $37,000. Finally, Asset Planning Inc acquired a new stake in Illinois Tool Works during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 in the last 90 days. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Down 0.6 %

Illinois Tool Works stock opened at $254.58 on Wednesday. The firm’s 50 day moving average price is $258.07 and its two-hundred day moving average price is $260.48. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The firm has a market cap of $74.72 billion, a PE ratio of 21.72, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping 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%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Wells Fargo & Company reduced their price target on shares of 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 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $269.10.

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.