Banque Cantonale Vaudoise Cuts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Banque Cantonale Vaudoise reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 12.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,088 shares of the industrial products company’s stock after selling 1,782 shares during the period. Banque Cantonale Vaudoise’s holdings in Illinois Tool Works were worth $3,430,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ITW. Prospera Financial Services Inc boosted its position in shares of Illinois Tool Works by 0.5% in the 3rd quarter. Prospera Financial Services Inc now owns 24,783 shares of the industrial products company’s stock worth $6,498,000 after purchasing an additional 120 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in shares of Illinois Tool Works in the third quarter valued at about $336,000. Caprock Group LLC raised its stake in shares of Illinois Tool Works by 4.8% in the third quarter. Caprock Group LLC now owns 8,650 shares of the industrial products company’s stock worth $2,280,000 after purchasing an additional 399 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of Illinois Tool Works by 2.0% during the third quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock worth $13,590,000 after purchasing an additional 994 shares during the period. Finally, Windle Wealth LLC boosted its position in Illinois Tool Works by 3.4% in the third quarter. Windle Wealth LLC now owns 26,093 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 851 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $266.46 on Wednesday. The company’s 50 day simple moving average is $260.94 and its 200-day simple moving average is $249.34. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The firm has a market cap of $78.69 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus boosted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Four research 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 company’s stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $257.30.

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.