Forsta AP Fonden Has $25.24 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Forsta AP Fonden boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,300 shares of the industrial products company’s stock after purchasing an additional 10,100 shares during the quarter. Forsta AP Fonden’s holdings in Illinois Tool Works were worth $25,237,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in shares of Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock valued at $1,171,006,000 after buying an additional 51,654 shares during the period. Legal & General Group Plc increased its position in shares of 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 valued at $640,425,000 after purchasing an additional 62,645 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after purchasing an additional 133,853 shares in the last quarter. Guinness Asset Management LTD lifted its position in Illinois Tool Works by 4.6% in the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock worth $210,447,000 after purchasing an additional 35,145 shares during the period. Finally, ProShare Advisors LLC boosted its stake 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 in the last quarter. 79.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ITW. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Truist Financial boosted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted 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. Finally, Evercore ISI lowered their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $255.44.

Illinois Tool Works Trading Down 0.6 %

ITW traded down $1.45 during mid-day trading on Friday, reaching $254.08. The stock had a trading volume of 730,755 shares, compared to its average volume of 727,109. The stock has a market capitalization of $75.82 billion, a P/E ratio of 25.06, a P/E/G ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $221.82 and a 52 week high of $271.15. 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 firm’s fifty day simple moving average is $253.83 and its two-hundred day simple moving average is $247.39.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.41 EPS. On average, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS 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. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.17%.

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.