Robeco Institutional Asset Management B.V. Has $5 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Robeco Institutional Asset Management B.V. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the first quarter, Holdings Channel reports. The fund owned 20,153 shares of the industrial products company’s stock after selling 328 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Illinois Tool Works were worth $4,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sivia Capital Partners LLC acquired a new stake in Illinois Tool Works in the first quarter valued at approximately $214,000. EP Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 42.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company’s stock valued at $1,450,000 after acquiring an additional 1,698 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Illinois Tool Works during the 1st quarter worth $946,000. Alteri Wealth LLC acquired a new position in Illinois Tool Works in the 4th quarter worth about $224,000. Finally, Proficio Capital Partners LLC raised its position in Illinois Tool Works by 44.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 536 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Activity

In related news, Director David Byron Smith, Jr. bought 872 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were acquired 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. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $247.17 on Tuesday. The company has a market cap of $72.42 billion, a P/E ratio of 21.74, a PEG ratio of 5.33 and a beta of 1.10. 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 business has a 50-day moving average price of $244.22 and a two-hundred day moving average price of $249.62. 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) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations 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, analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.43%. Illinois Tool Works’s dividend payout ratio is currently 52.77%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ITW shares. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. UBS Group reduced their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Truist Financial decreased their price objective 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. Citigroup cut their target price on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Barclays decreased their price target on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $253.42.

Illinois Tool Works 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.