Achmea Investment Management B.V. Acquires 11,011 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Achmea Investment Management B.V. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 31.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,656 shares of the industrial products company’s stock after buying an additional 11,011 shares during the period. Achmea Investment Management B.V.’s holdings in Illinois Tool Works were worth $11,323,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc increased its position in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 84 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $31,000. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $248.09 on Friday. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm has a market cap of $72.69 billion, a P/E ratio of 21.82, a P/E/G ratio of 5.31 and a beta of 1.10. The business’s fifty day moving average is $243.84 and its two-hundred day moving average is $250.11. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other news, Director David Byron Smith, Jr. purchased 872 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director now directly owns 122,884 shares of the company’s stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Evercore ISI lowered their price target on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research report on Monday, May 19th. Citigroup lowered their price target on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Truist Financial lowered their price target on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus upped their price target on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $253.42.

About Illinois Tool Works

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.