Vontobel Holding Ltd. Sells 3,989 Shares of Illinois Tool Works Inc. $ITW

Vontobel Holding Ltd. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.5% in the 3rd quarter, Holdings Channel reports. The firm owned 23,513 shares of the industrial products company’s stock after selling 3,989 shares during the period. Vontobel Holding Ltd.’s holdings in Illinois Tool Works were worth $6,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ITW. BlackRock Inc. bought a new position in Illinois Tool Works during the second quarter valued at approximately $6,296,349,000. State Street Corp grew its position in Illinois Tool Works by 1.0% in the 2nd quarter. State Street Corp now owns 12,788,570 shares of the industrial products company’s stock worth $3,479,219,000 after purchasing an additional 128,089 shares during the period. Bank of America Corp DE grew its position in Illinois Tool Works by 2.5% in the 1st quarter. Bank of America Corp DE now owns 3,005,659 shares of the industrial products company’s stock worth $782,343,000 after purchasing an additional 72,951 shares during the period. Bank of New York Mellon Corp purchased a new stake in Illinois Tool Works during the 2nd quarter valued at $603,166,000. Finally, Dimensional Fund Advisors LP raised its stake in Illinois Tool Works by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,045,009 shares of the industrial products company’s stock valued at $532,261,000 after buying an additional 60,009 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $272.47 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The firm has a market capitalization of $77.60 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.94 and a beta of 0.96. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average of $273.50 and a 200 day moving average of $268.38.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.42 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a $1.72 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date was Wednesday, September 30th. This represents a $6.88 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.38%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of Illinois Tool Works stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. The trade was a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $289.22, for a total value of $80,113.94. Following the transaction, the chief accounting officer owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ITW shares. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research report on Wednesday, September 30th. Weiss Ratings downgraded Illinois Tool Works from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Truist Financial dropped their target price on Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Finally, UBS Group set a $277.00 target price on Illinois Tool Works in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Reduce” and a consensus price target of $273.42.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.