Vanguard Personalized Indexing Management LLC Acquires 2,453 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Vanguard Personalized Indexing Management LLC grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,547 shares of the industrial products company’s stock after acquiring an additional 2,453 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Illinois Tool Works were worth $6,705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tredje AP fonden grew its position in Illinois Tool Works by 131.5% in the 2nd quarter. Tredje AP fonden now owns 17,782 shares of the industrial products company’s stock worth $4,214,000 after purchasing an additional 10,100 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Illinois Tool Works by 11.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 36,649 shares of the industrial products company’s stock valued at $8,684,000 after buying an additional 3,627 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Illinois Tool Works by 1.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company’s stock worth $7,172,000 after buying an additional 468 shares in the last quarter. Argent Trust Co increased its stake in Illinois Tool Works by 3.3% during the second quarter. Argent Trust Co now owns 23,515 shares of the industrial products company’s stock valued at $5,572,000 after acquiring an additional 746 shares during the period. Finally, Bradley Foster & Sargent Inc. CT raised its holdings in Illinois Tool Works by 1.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,441 shares of the industrial products company’s stock valued at $2,000,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.7 %

Shares of ITW stock opened at $252.94 on Thursday. The company has a market capitalization of $75.48 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.93 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm has a 50-day moving average price of $245.72 and a 200 day moving average price of $248.25.

Illinois Tool Works (NYSE:ITW) last posted its 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. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.41 earnings per share. Research analysts forecast that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal 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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.37%. 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 is presently 59.17%.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Truist Financial decreased their price objective on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group decreased their price target on shares of 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. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $250.22.

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.