Vontobel Holding Ltd. Purchases 1,281 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Vontobel Holding Ltd. boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,204 shares of the industrial products company's stock after purchasing an additional 1,281 shares during the quarter. Vontobel Holding Ltd.'s holdings in Illinois Tool Works were worth $8,483,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITW. Brighton Jones LLC boosted its stake in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after acquiring an additional 277 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $129,000. Meridian Wealth Management LLC boosted its position in shares of Illinois Tool Works by 1.8% during the 4th quarter. Meridian Wealth Management LLC now owns 2,809 shares of the industrial products company's stock worth $712,000 after purchasing an additional 51 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Illinois Tool Works by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,489 shares of the industrial products company's stock worth $7,224,000 after purchasing an additional 616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Illinois Tool Works by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company's stock valued at $638,205,000 after buying an additional 32,607 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.8%

Illinois Tool Works stock traded up $1.95 during midday trading on Friday, hitting $258.40. 759,518 shares of the stock were exchanged, compared to its average volume of 996,891. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. The business's 50-day moving average price is $245.68 and its 200-day moving average price is $249.56. The stock has a market capitalization of $75.71 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 5.70 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. On average, research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is currently 52.77%.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 upped their price target on Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research note on Tuesday. Evercore ISI lowered their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday, May 19th. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a report on Wednesday, May 7th. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $252.58.

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.