APG Asset Management N.V. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,526 shares of the industrial products company’s stock after selling 56,399 shares during the period. APG Asset Management N.V. owned 0.15% of Illinois Tool Works worth $91,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kore Private Wealth LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $329,000. Kensington Investment Counsel LLC grew its position in Illinois Tool Works by 2.2% during the 2nd quarter. Kensington Investment Counsel LLC now owns 5,648 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 120 shares during the period. Inscription Capital LLC acquired a new stake in Illinois Tool Works during the 2nd quarter worth about $1,115,000. Sigma Planning Corp grew its position in Illinois Tool Works by 12.2% during the 2nd quarter. Sigma Planning Corp now owns 8,515 shares of the industrial products company’s stock worth $1,904,000 after purchasing an additional 924 shares during the period. Finally, Jump Financial LLC acquired a new stake in Illinois Tool Works during the 2nd quarter worth about $640,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Illinois Tool Works stock opened at $214.78 on Thursday. The firm has a market capitalization of $67.65 billion, a PE ratio of 25.54, a P/E/G ratio of 2.16 and a beta of 1.08. Illinois Tool Works Inc. has a twelve month low of $192.29 and a twelve month high of $242.07. The firm’s 50-day moving average price is $222.48 and its 200 day moving average price is $226.21. The company has a current ratio of 2.20, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Shareholders of record on Thursday, September 30th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.27%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, September 29th. Illinois Tool Works’s dividend payout ratio (DPR) is 69.71%.
Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on Illinois Tool Works from $208.00 to $198.00 and set an “underweight” rating on the stock in a research report on Thursday, October 7th. Deutsche Bank Aktiengesellschaft increased their price target on Illinois Tool Works from $227.00 to $238.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. Citigroup raised their target price on Illinois Tool Works from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, August 2nd. Credit Suisse Group raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company an “outperform” rating in a research report on Monday, August 2nd. Finally, Wells Fargo & Company began coverage on Illinois Tool Works in a research report on Thursday, October 7th. They set an “equal weight” rating and a $219.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $226.88.
About Illinois Tool Works
Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.
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