Generali Investments Management Co LLC Buys New Stake 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 its most recent filing with the SEC. The firm bought 16,834 shares of the industrial products company’s stock, valued at approximately $4,268,000. Illinois Tool Works comprises 1.1% of Generali Investments Management Co LLC’s holdings, making the stock its 23rd biggest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Vinva Investment Management Ltd boosted its holdings in Illinois Tool Works by 7.6% in the 4th quarter. Vinva Investment Management Ltd now owns 19,842 shares of the industrial products company’s stock valued at $5,056,000 after purchasing an additional 1,410 shares during the period. Bank of Marin boosted its holdings in Illinois Tool Works by 10.9% in the 4th quarter. Bank of Marin now owns 1,523 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 150 shares during the period. Compass Ion Advisors LLC boosted its holdings in Illinois Tool Works by 2.6% in the 4th quarter. Compass Ion Advisors LLC now owns 3,561 shares of the industrial products company’s stock valued at $903,000 after purchasing an additional 89 shares during the period. Xponance Inc. boosted its holdings in Illinois Tool Works by 3.6% in the 4th quarter. Xponance Inc. now owns 50,836 shares of the industrial products company’s stock valued at $12,890,000 after purchasing an additional 1,749 shares during the period. Finally, Generali Asset Management SPA SGR bought a new stake in Illinois Tool Works in the 4th quarter valued at $9,302,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Down 0.6 %

Shares of ITW stock opened at $254.58 on Wednesday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a market capitalization of $74.72 billion, a P/E ratio of 21.72, a P/E/G ratio of 4.56 and a beta of 1.13. The firm has a 50-day moving average price of $258.07 and a 200 day moving average price of $260.48. 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 announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. 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 report on Monday, February 3rd. Evercore ISI reduced their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned 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.com, Illinois Tool Works has an average rating of “Hold” and an average price target of $269.10.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value 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 trade represents a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

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.