Vontobel Holding Ltd. Has $8.35 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Vontobel Holding Ltd. lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,923 shares of the industrial products company's stock after selling 2,192 shares during the quarter. Vontobel Holding Ltd.'s holdings in Illinois Tool Works were worth $8,348,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ITW. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the fourth quarter worth $28,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $1.79 during mid-day trading on Wednesday, reaching $264.04. The stock had a trading volume of 811,638 shares, compared to its average volume of 969,320. The firm's 50 day simple moving average is $257.57 and its 200 day simple moving average is $258.02. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market cap of $77.97 billion, a PE ratio of 22.53, a P/E/G ratio of 4.42 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, analysts forecast that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITW. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $269.30.

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.