Banque Cantonale Vaudoise Buys New Stake in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Illinois Tool Works, purchasing 17,314 shares for about $4.29 million during the first quarter.
• The company recently announced a quarterly dividend of $1.50 per share, resulting in an annualized total of $6.00, with a yield of 2.31%.
• Illinois Tool Works reported earnings per share (EPS) of $2.38 for the last quarter, surpassing analyst expectations and indicating a net margin of 21.37%.

Banque Cantonale Vaudoise bought a new position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 17,314 shares of the industrial products company's stock, valued at approximately $4,294,000.

A number of other hedge funds have also recently made changes to their positions in the business. Sivia Capital Partners LLC purchased a new stake in Illinois Tool Works during the first quarter valued at approximately $214,000. OneAscent Financial Services LLC raised its stake in Illinois Tool Works by 25.8% in the 1st quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company's stock worth $416,000 after acquiring an additional 341 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Illinois Tool Works by 42.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after buying an additional 1,698 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter valued at about $946,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Illinois Tool Works by 12.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,557 shares of the industrial products company's stock worth $10,242,000 after buying an additional 4,560 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director owned 122,884 shares in the company, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW traded down $4.02 during mid-day trading on Friday, reaching $251.95. 792,580 shares of the company's stock traded hands, compared to its average volume of 1,103,533. The business's 50-day moving average price is $250.93 and its 200-day moving average price is $250.15. The stock has a market capitalization of $73.82 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 5.29 and a beta of 1.09. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.16 and a current ratio of 1.59. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same period in the previous year, the company posted $2.54 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITW. UBS Group boosted their target price on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a report on Thursday. Truist Financial cut Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective on the stock. in a report on Thursday. Evercore ISI decreased their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a report on Monday, May 19th. Stifel Nicolaus upped their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the company a "hold" rating in a report on Thursday. Finally, Citigroup boosted their target price on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $259.08.

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.