Robeco Schweiz AG Has $9.42 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. F M Investments LLC grew its position in Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock worth $227,000 after acquiring an additional 42 shares during the last quarter. Trust Co of the South boosted its stake in shares of Illinois Tool Works by 2.9% during 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 purchasing an additional 42 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock worth $937,000 after purchasing an additional 44 shares during the last quarter. Integrated Advisors Network LLC increased 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 during the period. Finally, Deseret Mutual Benefit Administrators raised its holdings in Illinois Tool Works by 3.3% in the 1st 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 during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 872 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ITW. Truist Financial decreased their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus raised their target price on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. 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 report on Monday, April 7th. Robert W. Baird increased their price target on Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Citigroup cut their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and an average target price of $252.83.

Illinois Tool Works Trading Up 0.9%

NYSE:ITW opened at $262.03 on Friday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. 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 stock has a market capitalization of $76.77 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 5.50 and a beta of 1.09. The firm has a fifty day simple moving average of $247.15 and a two-hundred day simple moving average of $249.55.

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. 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%. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the business posted $2.44 EPS. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm 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 $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.29%. Illinois Tool Works's payout ratio is 52.77%.

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.

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