Robeco Institutional Asset Management B.V. Has $8.60 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Robeco Institutional Asset Management B.V. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 40.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,595 shares of the industrial products company’s stock after selling 31,699 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Illinois Tool Works were worth $8,597,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Bridgefront Capital LLC acquired a new stake in shares of Illinois Tool Works during the third quarter valued at approximately $649,000. Toroso Investments LLC increased its stake in 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 buying an additional 1,079 shares during the period. IHT Wealth Management LLC increased its stake in 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 buying an additional 531 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in 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 buying an additional 7,362 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Illinois Tool Works in the 3rd quarter valued at approximately $11,570,000. Institutional investors and hedge funds own 79.83% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

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

Analyst Upgrades and Downgrades

ITW has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Illinois Tool Works from $210.00 to $238.00 and gave the company a “neutral” rating in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. UBS Group upped their price objective on shares of Illinois Tool Works from $213.00 to $245.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Morgan Stanley increased their price target 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. Finally, Barclays increased their price target 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $223.07.

Illinois Tool Works Price Performance

NYSE ITW opened at $229.81 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00. The company has a fifty day simple moving average of $234.04 and a 200 day simple moving average of $217.85. The company has a market cap of $70.11 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.46 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $173.52 and a 1 year high of $253.37.

Illinois Tool Works (NYSE:ITW – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share 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 company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the company earned $1.95 earnings per share. Illinois Tool Works’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 9.61 EPS for the current year.

Illinois Tool Works Announces Dividend

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

Illinois Tool Works Company Profile

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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.