Vinva Investment Management Ltd Buys 1,410 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Vinva Investment Management Ltd boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,842 shares of the industrial products company’s stock after purchasing an additional 1,410 shares during the quarter. Vinva Investment Management Ltd’s holdings in Illinois Tool Works were worth $5,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. Pathstone Holdings LLC raised its stake in Illinois Tool Works by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock valued at $13,590,000 after purchasing an additional 994 shares during the period. Caprock Group LLC raised its stake in Illinois Tool Works by 4.8% during the 3rd quarter. Caprock Group LLC now owns 8,650 shares of the industrial products company’s stock valued at $2,280,000 after purchasing an additional 399 shares during the period. Prospera Financial Services Inc raised its stake in Illinois Tool Works by 0.5% during the 3rd quarter. Prospera Financial Services Inc now owns 24,783 shares of the industrial products company’s stock valued at $6,498,000 after purchasing an additional 120 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Illinois Tool Works during the 3rd quarter valued at approximately $5,665,000. Finally, Prospera Private Wealth LLC bought a new stake in Illinois Tool Works during the 3rd quarter valued at approximately $4,731,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $256.46 on Thursday. The stock has a market cap of $75.27 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a 50 day moving average price of $258.24 and a 200-day moving average price of $260.45. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ITW shares. Truist Financial raised 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. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company cut their price target 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. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a report on Wednesday, February 19th. Finally, Barclays set a $260.00 price target on Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $269.10.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 in the last quarter. 0.88% of the stock is owned by company insiders.

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.