Janus Henderson Group PLC Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Janus Henderson Group PLC grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,969 shares of the industrial products company’s stock after buying an additional 12,051 shares during the period. Janus Henderson Group PLC’s holdings in Illinois Tool Works were worth $13,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ITW. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Illinois Tool Works by 1.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Illinois Tool Works in the first quarter valued at $1,147,000. Norden Group LLC increased its position in Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after purchasing an additional 25,144 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Illinois Tool Works by 6.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after purchasing an additional 12,065 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Illinois Tool Works by 78.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after purchasing an additional 16,216 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW opened at $247.28 on Thursday. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The stock has a market capitalization of $73.79 billion, a PE ratio of 24.39, a PEG ratio of 3.74 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. The company has a 50 day moving average price of $240.85 and a 200-day moving average price of $251.19.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $2.41 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 10.3 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Friday, June 28th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s payout ratio is 55.23%.

Analyst Ratings Changes

ITW has been the topic of a number of research reports. Barclays reduced their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday. Wells Fargo & Company upped their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday. Stifel Nicolaus cut their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday. Truist Financial dropped their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $253.00.

Illinois Tool Works Company 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.