Vest Financial LLC Has $54.61 Million Stock Position in Illinois Tool Works Inc. $ITW

Vest Financial LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.2% in the third quarter, Holdings Channel reports. The institutional investor owned 209,418 shares of the industrial products company’s stock after selling 16,240 shares during the quarter. Vest Financial LLC’s holdings in Illinois Tool Works were worth $54,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC acquired a new stake in Illinois Tool Works in the 2nd quarter worth $25,000. SOA Wealth Advisors LLC. lifted its stake in shares of Illinois Tool Works by 90.9% in the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after buying an additional 50 shares during the period. Corsicana & Co. acquired a new stake in Illinois Tool Works during the third quarter worth about $26,000. Vermillion & White Wealth Management Group LLC increased its stake in Illinois Tool Works by 103.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 63 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Illinois Tool Works in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ITW. Barclays boosted their price objective on Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Trading Down 3.4%

Shares of Illinois Tool Works stock opened at $254.43 on Wednesday. The stock has a market capitalization of $73.81 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 14.16 and a beta of 1.15. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $278.13. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. The company has a 50-day simple moving average of $250.71 and a 200 day simple moving average of $254.83.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The company had revenue of $4.06 billion during 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%. Illinois Tool Works’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a $1.61 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.