Vise Technologies Inc. Acquires Shares of 10,811 Illinois Tool Works Inc. $ITW

Vise Technologies Inc. bought a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 10,811 shares of the industrial products company’s stock, valued at approximately $2,673,000.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co raised its position in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 39 shares in the last quarter. Northcape Wealth Management LLC increased its stake in shares of Illinois Tool Works by 2.1% in the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after buying an additional 40 shares during the last quarter. TFG Advisers LLC raised its holdings in Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 42 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 42 shares during the last quarter. Finally, Clearstead Trust LLC grew its holdings in Illinois Tool Works by 0.9% during the 1st quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock worth $1,180,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ITW. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. The Goldman Sachs Group set a $258.00 price target on Illinois Tool Works in a report on Monday, October 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research note on Friday, October 31st. Robert W. Baird set a $265.00 target price on shares of Illinois Tool Works in a research note on Monday, October 27th. Finally, Barclays increased their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $262.00.

Insider Activity at Illinois Tool Works

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

Illinois Tool Works Stock Performance

ITW stock opened at $244.27 on Tuesday. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The stock has a market capitalization of $70.86 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 4.10 and a beta of 1.11. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock’s fifty day moving average is $254.93 and its two-hundred day moving average is $253.02.

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

Illinois Tool Works Announces Dividend

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

About Illinois Tool Works

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.