MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires New Position in Illinois Tool Works Inc. (NYSE:ITW)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Illinois Tool Works Inc. (NYSE:ITW) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 593 shares of the industrial products company’s stock, valued at approximately $159,000.

A number of other institutional investors have also bought and sold shares of ITW. Vanguard Group Inc. boosted its stake in Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after buying an additional 1,238,239 shares during the last quarter. Norges Bank purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $818,408,000. Fisher Asset Management LLC increased its position in Illinois Tool Works by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after purchasing an additional 122,840 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Illinois Tool Works by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,363 shares of the industrial products company’s stock worth $353,715,000 after purchasing an additional 26,089 shares during the period. Finally, Alecta Tjanstepension Omsesidigt boosted its holdings in Illinois Tool Works by 150.0% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday. Citigroup boosted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Barclays lowered their target price on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $254.00.

Illinois Tool Works Trading Up 0.9 %

NYSE ITW opened at $235.52 on Wednesday. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The firm has a 50 day simple moving average of $243.18 and a 200-day simple moving average of $253.66. The firm has a market cap of $70.28 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 3.48 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.26 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is presently 55.23%.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now directly 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 can be accessed through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works 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.