Robeco Institutional Asset Management B.V. Has $3.91 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Robeco Institutional Asset Management B.V. lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 77.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,909 shares of the industrial products company’s stock after selling 51,063 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Illinois Tool Works were worth $3,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Illinois Tool Works by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after buying an additional 1,238,239 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Illinois Tool Works by 1.9% in the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after purchasing an additional 244,145 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Illinois Tool Works by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after purchasing an additional 97,568 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Illinois Tool Works by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after purchasing an additional 122,840 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Illinois Tool Works by 1.3% in the third quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock valued at $401,352,000 after purchasing an additional 22,238 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 0.7 %

Shares of Illinois Tool Works stock opened at $248.77 on Wednesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The business has a fifty day simple moving average of $255.90 and a two-hundred day simple moving average of $254.03. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a market capitalization of $74.23 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 3.71 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the company posted $2.33 EPS. Illinois Tool Works’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Illinois Tool Works Inc. will post 10.24 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.25%. Illinois Tool Works’s payout ratio is currently 55.23%.

Insider Activity at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ITW. Truist Financial increased their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Barclays decreased their price target on Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $257.78.

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.