Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,234 shares of the industrial products company’s stock after acquiring an additional 343 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Illinois Tool Works were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Steele Capital Management Inc. boosted its position in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares during the period. EP Wealth Advisors LLC grew its position in Illinois Tool Works by 1.0% in the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after buying an additional 42 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Illinois Tool Works by 3.0% during the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after buying an additional 44 shares during the period. Carson Advisory Inc. raised its position in shares of Illinois Tool Works by 3.0% during the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after buying an additional 45 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of Illinois Tool Works by 0.8% in the first quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock valued at $1,596,000 after acquiring an additional 46 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. Evercore ISI dropped their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group dropped their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Truist Financial decreased their target price on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Price Performance

NYSE ITW opened at $261.35 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The company has a market cap of $77.99 billion, a PE ratio of 25.77, a PEG ratio of 4.09 and a beta of 1.10. The stock’s 50-day moving average price is $248.00 and its two-hundred day moving average price is $248.00.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $2.41 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works Inc. will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

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.