Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 126,698 shares of the industrial products company's stock after buying an additional 8,424 shares during the period. Asset Management One Co. Ltd.'s holdings in Illinois Tool Works were worth $31,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Illinois Tool Works by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company's stock valued at $6,675,473,000 after purchasing an additional 94,601 shares during the period. Northern Trust Corp boosted its holdings in shares of Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Illinois Tool Works by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock valued at $1,620,491,000 after buying an additional 99,753 shares during the period. Capital Research Global Investors raised its position in shares of Illinois Tool Works by 1.8% in the 4th quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after buying an additional 71,934 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company's stock valued at $873,071,000 after acquiring an additional 95,925 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director now owns 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup cut their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a report on Wednesday, May 7th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Truist Financial reduced their target price on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Robert W. Baird increased their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works has an average rating of "Hold" and an average price target of $253.42.

Illinois Tool Works Stock Up 0.5%

NYSE:ITW traded up $1.34 on Friday, reaching $248.09. The stock had a trading volume of 971,319 shares, compared to its average volume of 1,003,335. The company has a 50-day moving average of $243.84 and a 200 day moving average of $250.11. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 2.25. The stock has a market cap of $72.69 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 5.31 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. Illinois Tool Works's revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is currently 52.77%.

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.