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Genus Capital Management Inc. Takes Position in Illinois Tool Works Inc. (NYSE:ITW)

Illinois Tool Works logo with Industrials background

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

A number of other institutional investors have also modified their holdings of the company. F M Investments LLC grew its stake in shares of Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after buying an additional 42 shares in the last quarter. Trust Co of the South grew its stake in shares of Illinois Tool Works by 2.9% in the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock valued at $367,000 after buying an additional 42 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Illinois Tool Works by 1.2% in the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after buying an additional 44 shares in the last quarter. Integrated Advisors Network LLC grew its stake in shares of Illinois Tool Works by 0.8% in the fourth quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company's stock valued at $1,504,000 after buying an additional 45 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Illinois Tool Works by 3.3% in the first quarter. Deseret Mutual Benefit Administrators now owns 1,431 shares of the industrial products company's stock valued at $355,000 after buying an additional 46 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.9%

Shares of NYSE ITW opened at $259.71 on Friday. The company has a market capitalization of $76.10 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 5.55 and a beta of 1.09. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.60 and a quick ratio of 1.16. The business has a 50-day moving average of $247.49 and a two-hundred day moving average of $249.55. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13.

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

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.77%.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the transaction, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ITW shares. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price for the company. in a report on Wednesday, May 7th. Stifel Nicolaus lifted their target price on Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Truist Financial decreased their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI decreased their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a report on Monday, May 19th. Finally, 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 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and a consensus target price of $252.83.

Read Our Latest Stock Report on Illinois Tool Works

Illinois Tool Works Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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