Flossbach Von Storch AG Makes New $148.87 Million Investment in Illinois Tool Works Inc. (NYSE:ITW)

Flossbach Von Storch AG purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,047,500 shares of the industrial products company’s stock, valued at approximately $148,871,000. Illinois Tool Works makes up 1.0% of Flossbach Von Storch AG’s holdings, making the stock its 24th largest holding. Flossbach Von Storch AG owned 0.33% of Illinois Tool Works at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Greenleaf Trust boosted its holdings in shares of Illinois Tool Works by 1.1% in the 4th quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock valued at $883,000 after buying an additional 54 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Illinois Tool Works by 4.6% in the 4th quarter. Fiera Capital Corp now owns 1,342 shares of the industrial products company’s stock valued at $241,000 after buying an additional 59 shares in the last quarter. Lynch & Associates IN boosted its holdings in shares of Illinois Tool Works by 0.4% in the 1st quarter. Lynch & Associates IN now owns 15,548 shares of the industrial products company’s stock valued at $2,210,000 after buying an additional 65 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Illinois Tool Works by 6.7% in the 4th quarter. Assetmark Inc. now owns 1,131 shares of the industrial products company’s stock valued at $203,000 after buying an additional 71 shares in the last quarter. Finally, BSW Wealth Partners boosted its holdings in shares of Illinois Tool Works by 4.5% in the 4th quarter. BSW Wealth Partners now owns 1,668 shares of the industrial products company’s stock valued at $300,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 79.23% of the company’s stock.

ITW traded down $0.35 during trading on Friday, reaching $163.75. 727,170 shares of the company’s stock were exchanged, compared to its average volume of 1,448,303. Illinois Tool Works Inc. has a 1 year low of $115.94 and a 1 year high of $190.85. The company has a debt-to-equity ratio of 3.37, a current ratio of 2.71 and a quick ratio of 2.13. The stock has a market capitalization of $51.84 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 4.13 and a beta of 1.16. The company’s fifty day simple moving average is $156.32 and its 200-day simple moving average is $168.68.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.06. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm posted $1.81 EPS. Illinois Tool Works’s revenue for the quarter was down 9.1% compared to the same quarter last year. Equities analysts forecast that Illinois Tool Works Inc. will post 5.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, June 29th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

A number of research firms have recently weighed in on ITW. Deutsche Bank upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and raised their price target for the company from $124.00 to $148.00 in a report on Tuesday, May 5th. Citigroup raised their price target on shares of Illinois Tool Works from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Northcoast Research upgraded shares of Illinois Tool Works from a “sell” rating to a “neutral” rating in a research note on Friday, May 8th. Wells Fargo & Co lowered their target price on shares of Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $165.00 target price on shares of Illinois Tool Works in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $157.82.

In other news, CEO Ernest Scott Santi bought 6,300 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $158.42 per share, with a total value of $998,046.00. Following the acquisition, the chief executive officer now directly owns 141,994 shares in the company, valued at $22,494,689.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Lenny bought 1,575 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of $159.19 per share, with a total value of $250,724.25. The disclosure for this purchase can be found here. 0.79% of the stock is owned by insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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