Mn Services Vermogensbeheer B.V. Sells 3,900 Shares of Illinois Tool Works Inc. (NYSE:ITW)

by · The Markets Daily

Mn Services Vermogensbeheer B.V. lowered its position in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,929 shares of the industrial products company’s stock after selling 3,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Illinois Tool Works were worth $30,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in Illinois Tool Works by 1.2% during the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the period. Legal & General Group Plc lifted its holdings in Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock worth $640,425,000 after buying an additional 62,645 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after buying an additional 133,853 shares during the period. Guinness Asset Management LTD lifted its holdings in Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after buying an additional 35,145 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Illinois Tool Works by 7.3% during the second quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock worth $176,047,000 after buying an additional 50,753 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW traded up $1.80 during midday trading on Monday, hitting $264.88. 115,711 shares of the company were exchanged, compared to its average volume of 1,060,565. The company’s 50 day simple moving average is $255.59 and its 200 day simple moving average is $247.39. The firm has a market capitalization of $78.22 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a 1-year low of $227.66 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS 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 analysts’ expectations of $4.02 billion. During the same period last year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.63 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $256.40.

View Our Latest Research Report on Illinois Tool Works

Illinois Tool Works Profile

(Free Report)

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.

See Also

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