Handelsbanken Fonder AB Purchases 1,706 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Handelsbanken Fonder AB lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,443 shares of the industrial products company's stock after purchasing an additional 1,706 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Illinois Tool Works worth $38,055,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 worth $6,675,473,000 after acquiring an additional 94,601 shares in the last quarter. Northern Trust Corp increased its position in shares of 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 worth $3,465,570,000 after acquiring an additional 508,188 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 worth $1,620,491,000 after acquiring an additional 99,753 shares in the last quarter. Capital Research Global Investors increased its position in shares of 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 worth $1,047,837,000 after acquiring an additional 71,934 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of 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 worth $873,071,000 after acquiring an additional 95,925 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ITW shares. UBS Group dropped their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Evercore ISI dropped their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday, May 19th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Bank of America lowered shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a research report on Wednesday, May 7th. Finally, Truist Financial dropped 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. Three 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 company's stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of "Hold" and an average target price of $253.42.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded down $0.73 on Thursday, hitting $245.89. The company's stock had a trading volume of 650,994 shares, compared to its average volume of 1,011,001. The firm has a market cap of $72.05 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a fifty day moving average price of $240.64 and a 200-day moving average price of $252.54. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate 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. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.44%. Illinois Tool Works's dividend payout ratio (DPR) is 52.77%.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 872 shares of Illinois Tool Works stock in a transaction that occurred on 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 transaction, the director now directly owns 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.88% of the stock is 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.