Commerzbank Aktiengesellschaft FI Has $2.82 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Commerzbank Aktiengesellschaft FI grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 41.5% during the 3rd quarter, Holdings Channel reports. The firm owned 10,745 shares of the industrial products company’s stock after purchasing an additional 3,152 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Illinois Tool Works were worth $2,816,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ITW. AXA S.A. boosted its position in Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after buying an additional 241,618 shares in the last quarter. Guinness Asset Management LTD raised its stake in shares of Illinois Tool Works by 30.7% in the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock valued at $181,926,000 after acquiring an additional 180,458 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after acquiring an additional 133,853 shares in the last quarter. SG Americas Securities LLC grew its position in Illinois Tool Works by 2,334.0% during the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock worth $34,119,000 after acquiring an additional 121,928 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Illinois Tool Works by 75.1% during the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after purchasing an additional 110,673 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 0.2 %

Shares of NYSE:ITW opened at $257.45 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm has a market cap of $76.82 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 4.10 and a beta of 1.10. The company’s fifty day simple moving average is $253.18 and its 200 day simple moving average is $247.27. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $1.50 per share. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s payout ratio is currently 59.17%.

Analyst Ratings Changes

Several analysts have recently commented on ITW shares. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays dropped their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $255.44.

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.