Vontobel Holding Ltd. Has $6.88 Million Stock Position in Illinois Tool Works Inc. $ITW

Key Points

• Vontobel Holding Ltd. reduced its stake in Illinois Tool Works Inc. by 18.7%, owning 27,812 shares worth $6.88 million after selling 6,392 shares in the second quarter.
• Illinois Tool Works recently increased its quarterly dividend from $1.50 to $1.61, representing an annualized dividend of $6.44, with a dividend yield of 2.6%.
• Analysts have set a consensus target price of $262.83 for Illinois Tool Works, with a mix of ratings including two Buy, eight Hold, and three Sell ratings.

Vontobel Holding Ltd. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 18.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,812 shares of the industrial products company's stock after selling 6,392 shares during the quarter. Vontobel Holding Ltd.'s holdings in Illinois Tool Works were worth $6,877,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ITW. Auto Owners Insurance Co raised its stake in Illinois Tool Works by 55,978.4% during the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock worth $354,654,000 after buying an additional 1,427,450 shares during the period. Nuveen LLC acquired a new stake in Illinois Tool Works during the 1st quarter worth $293,928,000. JPMorgan Chase & Co. raised its stake in Illinois Tool Works by 14.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,265,005 shares of the industrial products company's stock worth $313,734,000 after buying an additional 160,009 shares during the period. Citigroup Inc. raised its stake in Illinois Tool Works by 50.5% during the 1st quarter. Citigroup Inc. now owns 371,034 shares of the industrial products company's stock worth $92,020,000 after buying an additional 124,443 shares during the period. Finally, Aberdeen Group plc raised its stake in Illinois Tool Works by 118.7% during the 1st quarter. Aberdeen Group plc now owns 223,227 shares of the industrial products company's stock worth $54,789,000 after buying an additional 121,141 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Activity

In related news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $244.79 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. The stock's 50-day simple moving average is $261.04 and its 200 day simple moving average is $250.97. The company has a market cap of $71.36 billion, a P/E ratio of 21.45, a P/E/G ratio of 5.49 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.Illinois Tool Works's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $1.61 dividend. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 56.44%.

Analysts Set New Price Targets

Several analysts recently commented on ITW shares. Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. Evercore ISI set a $265.00 price target on Illinois Tool Works and gave the company an "underperform" rating in a research note on Tuesday, August 19th. Citigroup lifted their price target on Illinois Tool Works from $254.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Illinois Tool Works from $265.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, October 2nd. Finally, Truist Financial lifted their price target on Illinois Tool Works from $283.00 to $298.00 and gave the company a "hold" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $262.83.

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.

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