ASR Vermogensbeheer N.V. Takes $12.88 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $12.88 million in Illinois Tool Works Inc. by acquiring 51,914 shares during the first quarter of the year.
• A significant number of institutional investors have increased their stakes in Illinois Tool Works, with GAMMA Investing LLC raising its position by 26,372.8%.
• Illinois Tool Works has announced an increase in its quarterly dividend to $1.61 per share, reflecting a commitment to returning value to shareholders.

ASR Vermogensbeheer N.V. purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 51,914 shares of the industrial products company's stock, valued at approximately $12,875,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI raised its stake in Illinois Tool Works by 18.3% in the first quarter. Citizens Financial Group Inc. RI now owns 4,738 shares of the industrial products company's stock valued at $1,180,000 after purchasing an additional 734 shares in the last quarter. Strategy Asset Managers LLC raised its position in shares of Illinois Tool Works by 5.1% in the 1st quarter. Strategy Asset Managers LLC now owns 1,523 shares of the industrial products company's stock valued at $378,000 after buying an additional 74 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Illinois Tool Works by 6.3% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,964 shares of the industrial products company's stock worth $487,000 after acquiring an additional 117 shares during the period. Exencial Wealth Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $1,102,000. Finally, Planning Alternatives Ltd. ADV increased its stake in Illinois Tool Works by 19.1% in the first quarter. Planning Alternatives Ltd. ADV now owns 1,461 shares of the industrial products company's stock valued at $362,000 after acquiring an additional 234 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.1%

ITW traded down $0.29 during trading on Monday, reaching $256.70. 115,975 shares of the stock traded hands, compared to its average volume of 1,093,207. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The stock's 50-day moving average is $252.29 and its 200 day moving average is $249.99. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The stock has a market capitalization of $74.83 billion, a PE ratio of 22.48, a P/E/G ratio of 5.54 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 EPS. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.61 per share. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Illinois Tool Works's payout ratio is currently 56.44%.

Analyst Upgrades and Downgrades

ITW has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. UBS Group boosted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Bank of America downgraded Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Robert W. Baird lifted their target price on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Citigroup increased their target price on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average target price of $259.33.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 872 shares of Illinois Tool Works stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director owned 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

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.