Robeco Institutional Asset Management B.V. Sells 31,699 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Robeco Institutional Asset Management B.V. lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 40.0% during the 3rd quarter, Holdings Channel reports. The firm owned 47,595 shares of the industrial products company’s stock after selling 31,699 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Illinois Tool Works were worth $8,597,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Bridgefront Capital LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $649,000. Toroso Investments LLC boosted its stake in shares of Illinois Tool Works by 19.8% in the 3rd quarter. Toroso Investments LLC now owns 6,519 shares of the industrial products company’s stock valued at $1,178,000 after purchasing an additional 1,079 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 26.3% in the 3rd quarter. IHT Wealth Management LLC now owns 2,549 shares of the industrial products company’s stock valued at $460,000 after purchasing an additional 531 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Illinois Tool Works by 327.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 9,609 shares of the industrial products company’s stock valued at $1,736,000 after purchasing an additional 7,362 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Illinois Tool Works during the 3rd quarter worth approximately $11,570,000. Institutional investors own 79.83% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $229.81 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 2.00. Illinois Tool Works Inc. has a 12-month low of $173.52 and a 12-month high of $253.37. The company has a market capitalization of $70.11 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 3.46 and a beta of 1.10. The firm’s 50 day moving average is $234.04 and its 200-day moving average is $217.85.

Illinois Tool Works (NYSE:ITW – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.26). Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business earned $1.95 earnings per share. Illinois Tool Works’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 9.61 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be issued a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s payout ratio is 53.58%.

Insider Buying and Selling

In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the transaction, the insider now directly owns 40,072 shares in the company, valued at $9,868,130.72. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the transaction, the chief executive officer now directly owns 213,538 shares in the company, valued at $52,592,274.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the transaction, the insider now owns 40,072 shares in the company, valued at $9,868,130.72. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. Vertical Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $240.00 to $220.00 in a research note on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. Barclays lifted their price objective on shares of Illinois Tool Works from $172.00 to $184.00 and gave the stock an “underweight” rating in a research note on Thursday, January 5th. StockNews.com began coverage on shares of Illinois Tool Works in a research note on Thursday. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $223.07.

About Illinois Tool Works

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.