First National Bank of Mount Dora Trust Investment Services Has $2.28 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

First National Bank of Mount Dora Trust Investment Services lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 52.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,186 shares of the industrial products company's stock after selling 10,228 shares during the quarter. First National Bank of Mount Dora Trust Investment Services' holdings in Illinois Tool Works were worth $2,278,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after buying an additional 277 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $2,710,000. Apollon Wealth Management LLC increased its stake in Illinois Tool Works by 9.3% during the fourth quarter. Apollon Wealth Management LLC now owns 12,823 shares of the industrial products company's stock worth $3,251,000 after acquiring an additional 1,093 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 2.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,340 shares of the industrial products company's stock valued at $2,622,000 after purchasing an additional 214 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in shares of Illinois Tool Works by 9.7% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,142 shares of the industrial products company's stock worth $290,000 after purchasing an additional 101 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW traded up $1.72 during mid-day trading on Tuesday, reaching $249.00. 632,338 shares of the company's stock traded hands, compared to its average volume of 1,010,598. The business's 50-day moving average price is $239.53 and its 200-day moving average price is $252.82. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a market capitalization of $72.96 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.41%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITW. UBS Group reduced their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Citigroup decreased their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Evercore ISI cut their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday, May 19th. Robert W. Baird upped their target price on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Truist Financial dropped their target price on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $253.42.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was purchased at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director now owns 122,884 shares of the company's stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Company Profile

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.