Robeco Institutional Asset Management B.V. Has $6.03 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Robeco Institutional Asset Management B.V. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 16.2% during the third quarter, Holdings Channel reports. The fund owned 22,993 shares of the industrial products company’s stock after purchasing an additional 3,204 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Illinois Tool Works were worth $6,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ITW. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works in the second quarter valued at about $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the third quarter worth approximately $35,000. Meeder Asset Management Inc. grew its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its stake in shares of Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $272.87 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The company has a market cap of $80.58 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 3.85 and a beta of 1.10. The company has a 50 day moving average of $256.78 and a 200-day moving average of $247.80. Illinois Tool Works Inc. has a 1-year low of $227.66 and a 1-year high of $277.58.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $2.55 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.75 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $256.40.

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.