Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 111,229 shares of the industrial products company’s stock after selling 8,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Illinois Tool Works were worth $27,586,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new stake in Illinois Tool Works in the 1st quarter worth about $214,000. EP Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company’s stock worth $1,450,000 after buying an additional 1,698 shares during the last quarter. MOKAN Wealth Management Inc. acquired a new stake in Illinois Tool Works in the 4th quarter worth about $1,096,000. Roxbury Financial LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $615,000. Finally, Empower Advisory Group LLC boosted its holdings in shares of Illinois Tool Works by 3.2% during the 4th quarter. Empower Advisory Group LLC now owns 346,144 shares of the industrial products company’s stock worth $87,768,000 after purchasing an additional 10,739 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director now owns 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Citigroup decreased their price objective on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Barclays decreased their price objective on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus upped their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, Robert W. Baird upped their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $253.42.

Illinois Tool Works Trading Down 1.9%

Shares of ITW stock opened at $241.23 on Friday. The firm has a market cap of $70.68 billion, a P/E ratio of 20.58, a PEG ratio of 4.56 and a beta of 1.10. The firm’s 50-day simple moving average is $241.11 and its 200-day simple moving average is $252.14. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the business earned $2.44 EPS. Illinois Tool Works’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 52.77%.

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.