Vest Financial LLC Lowers Position in Illinois Tool Works Inc. $ITW

Vest Financial LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 209,418 shares of the industrial products company’s stock after selling 16,240 shares during the period. Vest Financial LLC owned about 0.07% of Illinois Tool Works worth $54,608,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. First Interstate Bank boosted its position in shares of Illinois Tool Works by 15.3% during the 3rd quarter. First Interstate Bank now owns 1,508 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 200 shares in the last quarter. QTR Family Wealth LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at $202,000. Pacific Heights Asset Management LLC boosted its stake in shares of Illinois Tool Works by 9.9% during the third quarter. Pacific Heights Asset Management LLC now owns 100,000 shares of the industrial products company’s stock worth $26,076,000 after buying an additional 9,000 shares during the period. Dynamic Wealth Strategies LLC grew its stake in shares of Illinois Tool Works by 55.3% in the 3rd quarter. Dynamic Wealth Strategies LLC now owns 469 shares of the industrial products company’s stock valued at $122,000 after purchasing an additional 167 shares during the last quarter. Finally, Element Wealth LLC purchased a new position in Illinois Tool Works in the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ITW shares. The Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their price target for the company from $258.00 to $230.00 in a research report on Tuesday, December 16th. Evercore ISI decreased their price target on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research report on Monday, October 27th. Barclays boosted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a research report on Monday, October 27th. Finally, Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their target price for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Stock Down 3.4%

ITW stock opened at $254.43 on Wednesday. The firm has a 50 day simple moving average of $250.71 and a 200 day simple moving average of $254.83. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The firm has a market cap of $73.81 billion, a PE ratio of 24.68, a P/E/G 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.

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

Illinois Tool Works Dividend Announcement

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

Insider Buying and Selling

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was 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 $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Company Profile

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.