Andra AP fonden Has $21.35 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Andra AP fonden raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,100 shares of the industrial products company’s stock after buying an additional 200 shares during the period. Andra AP fonden’s holdings in Illinois Tool Works were worth $21,350,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Capital Research Global Investors increased its position in Illinois Tool Works by 1.2% in the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after purchasing an additional 51,654 shares during the last quarter. Norges Bank acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $818,408,000. Fisher Asset Management LLC grew its position in Illinois Tool Works by 4.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,949,029 shares of the industrial products company’s stock worth $772,469,000 after acquiring an additional 119,921 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Illinois Tool Works by 11.0% during the 4th quarter. Schroder Investment Management Group now owns 1,001,113 shares of the industrial products company’s stock valued at $262,232,000 after purchasing an additional 99,175 shares in the last quarter. Finally, Guinness Asset Management LTD increased its position in Illinois Tool Works by 30.7% during the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after buying an additional 180,458 shares during the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 1.3 %

Shares of ITW opened at $246.77 on Tuesday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The company has a 50-day simple moving average of $243.46 and a 200-day simple moving average of $248.66. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The firm has a market capitalization of $73.27 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.88 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.41 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s payout ratio is 55.23%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the transaction, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group reduced their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays cut their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Finally, Truist Financial lowered their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $250.22.

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.