Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Robeco Schweiz AG

Robeco Schweiz AG lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 347.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,000 shares of the industrial products company's stock after buying an additional 29,500 shares during the quarter. Robeco Schweiz AG's holdings in Illinois Tool Works were worth $9,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Genus Capital Management Inc. purchased a new stake in Illinois Tool Works during the 1st quarter worth about $893,000. Ramsay Stattman Vela & Price Inc. increased its position in Illinois Tool Works by 1.6% during the 1st quarter. Ramsay Stattman Vela & Price Inc. now owns 51,368 shares of the industrial products company's stock worth $12,740,000 after purchasing an additional 820 shares in the last quarter. Cerity Partners LLC increased its position in Illinois Tool Works by 2.9% during the 1st quarter. Cerity Partners LLC now owns 930,037 shares of the industrial products company's stock worth $230,661,000 after purchasing an additional 26,327 shares in the last quarter. Alps Advisors Inc. increased its position in Illinois Tool Works by 4.5% during the 1st quarter. Alps Advisors Inc. now owns 42,182 shares of the industrial products company's stock worth $10,462,000 after purchasing an additional 1,830 shares in the last quarter. Finally, Quotient Wealth Partners LLC increased its position in Illinois Tool Works by 11.9% during the 1st quarter. Quotient Wealth Partners LLC now owns 1,278 shares of the industrial products company's stock worth $317,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Down 0.9%

NYSE:ITW traded down $2.41 on Friday, reaching $259.71. The stock had a trading volume of 745,703 shares, compared to its average volume of 998,408. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The stock has a market cap of $76.10 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 5.55 and a beta of 1.09. 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 company has a 50-day moving average of $247.49 and a 200 day moving average of $249.55.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share 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 analyst estimates of $3.83 billion. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on ITW. Truist Financial lowered their price target 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. Barclays boosted their price objective on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday. UBS Group cut their target price on 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 reduced their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Finally, Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued 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 has an average rating of "Hold" and an average target price of $252.83.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, 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 can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

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.