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

Vontobel Holding Ltd. trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,923 shares of the industrial products company’s stock after selling 2,192 shares during the period. Vontobel Holding Ltd.’s holdings in Illinois Tool Works were worth $8,348,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ITW. Franklin Resources Inc. raised its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares during the period. National Bank of Canada FI raised its holdings in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after purchasing an additional 165,607 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.8 %

Shares of ITW opened at $257.98 on Friday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm’s 50 day moving average is $258.13 and its 200-day moving average is $257.65. The stock has a market capitalization of $76.18 billion, a PE ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced 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 net margin of 21.94% and a return on equity of 95.39%. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.38 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ITW. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $271.00.

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.