Vise Technologies Inc. Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Vise Technologies Inc. raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 103.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,679 shares of the industrial products company's stock after purchasing an additional 1,869 shares during the quarter. Vise Technologies Inc.'s holdings in Illinois Tool Works were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $26,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock worth $28,000 after acquiring an additional 84 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $31,000. Finally, Atlantic Private Wealth LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $32,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Down 0.8%

ITW stock traded down $1.85 during trading on Friday, hitting $243.88. 262,537 shares of the stock traded hands, compared to its average volume of 1,010,208. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The firm's 50 day moving average is $240.30 and its two-hundred day moving average is $254.24. The stock has a market cap of $71.46 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter in the prior year, the business earned $2.44 EPS. The business's quarterly revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced 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 2.46%. The ex-dividend date is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Citigroup decreased their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays decreased their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $253.42.

Insider Activity at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. The trade was a 45.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

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.