3,600 Shares in Illinois Tool Works Inc. (NYSE:ITW) Bought by Genus Capital Management Inc.

Genus Capital Management Inc. purchased a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,600 shares of the industrial products company's stock, valued at approximately $893,000.

A number of other institutional investors have also made changes to their positions in ITW. Vanguard Group Inc. increased its holdings in shares of Illinois Tool Works by 0.4% in the 4th 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 in the last quarter. Northern Trust Corp grew its holdings in Illinois Tool Works by 3.9% in the fourth 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 period. Geode Capital Management LLC grew its holdings in Illinois Tool Works by 1.6% in the fourth 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 purchasing an additional 99,753 shares during the period. Capital Research Global Investors grew its holdings in Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock valued at $1,047,837,000 after purchasing an additional 71,934 shares during the period. Finally, Norges Bank acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $806,291,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were purchased at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, 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 document filed with the SEC, which is available at this link. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Down 0.5%

Shares of NYSE ITW traded down $1.32 during trading hours on Tuesday, hitting $256.30. The company had a trading volume of 718,148 shares, compared to its average volume of 995,665. The firm's 50 day moving average is $247.83 and its 200-day moving average is $249.43. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market capitalization of $75.10 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 5.50 and a beta of 1.09. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Monday, June 30th. Illinois Tool Works's dividend payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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 research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. UBS Group dropped their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a research report on Wednesday, May 7th. Finally, Evercore ISI decreased their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research report on Monday, May 19th. Three 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $253.83.

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.