Vinva Investment Management Ltd Has $14.33 Million Position in Illinois Tool Works Inc. $ITW

Vinva Investment Management Ltd lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 96.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,786 shares of the industrial products company’s stock after buying an additional 28,431 shares during the quarter. Vinva Investment Management Ltd’s holdings in Illinois Tool Works were worth $14,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Illinois Tool Works by 1.3% during the second quarter. Vanguard Group Inc. now owns 26,723,774 shares of the industrial products company’s stock worth $6,607,453,000 after acquiring an additional 335,955 shares during the period. Geode Capital Management LLC grew its position in shares of Illinois Tool Works by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,765,540 shares of the industrial products company’s stock worth $1,670,246,000 after purchasing an additional 122,990 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Illinois Tool Works by 12.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after purchasing an additional 415,982 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,541,391 shares of the industrial products company’s stock worth $628,360,000 after acquiring an additional 12,558 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Illinois Tool Works by 0.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after buying an additional 13,354 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent research reports. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Wells Fargo & Company decreased 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 Monday, October 27th. Barclays lifted their price target on Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Finally, Stifel Nicolaus increased 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, July 31st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $263.77.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the transaction, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Up 0.4%

NYSE ITW opened at $249.27 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The stock’s 50-day simple moving average is $250.30 and its two-hundred day simple moving average is $253.22. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The company has a market capitalization of $72.31 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 4.10 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period last year, the firm posted $3.91 EPS. Illinois Tool Works’s revenue for the quarter was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $1.61 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is 62.46%.

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.