Achmea Investment Management B.V. Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Achmea Investment Management B.V. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 31.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,656 shares of the industrial products company's stock after purchasing an additional 11,011 shares during the quarter. Achmea Investment Management B.V.'s holdings in Illinois Tool Works were worth $11,323,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $26,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $26,000. Glass Jacobson Investment Advisors llc boosted its holdings in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 84 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Illinois Tool Works during the 4th quarter valued at about $31,000. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the transaction, the director now owns 122,884 shares in the company, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Up 0.5%

ITW stock traded up $1.34 on Friday, reaching $248.09. The company's stock had a trading volume of 971,319 shares, compared to its average volume of 993,696. The business has a fifty day simple moving average of $243.84 and a two-hundred day simple moving average of $249.95. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The firm has a market cap of $72.69 billion, a PE ratio of 21.82, a PEG ratio of 5.33 and a beta of 1.10. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60.

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 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 analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm's revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

ITW has been the subject of several analyst reports. Barclays dropped their target price on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. UBS Group dropped their target price on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Robert W. Baird increased 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. Citigroup dropped their target price on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Bank of America cut 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $253.42.

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.