Vest Financial LLC Has $52.31 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Vest Financial LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,932 shares of the industrial products company's stock after selling 11,183 shares during the quarter. Vest Financial LLC owned 0.07% of Illinois Tool Works worth $52,313,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Annex Advisory Services LLC boosted its position in Illinois Tool Works by 6.2% during the 1st quarter. Annex Advisory Services LLC now owns 1,736 shares of the industrial products company's stock worth $431,000 after acquiring an additional 101 shares during the last quarter. Oak Asset Management LLC boosted its holdings in shares of Illinois Tool Works by 2.6% in the 1st quarter. Oak Asset Management LLC now owns 5,978 shares of the industrial products company's stock valued at $1,483,000 after buying an additional 150 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Illinois Tool Works by 24.4% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 15,340 shares of the industrial products company's stock valued at $3,804,000 after acquiring an additional 3,009 shares during the period. Chronos Wealth Management LLC raised its stake in Illinois Tool Works by 0.5% in the 1st quarter. Chronos Wealth Management LLC now owns 21,551 shares of the industrial products company's stock valued at $5,345,000 after acquiring an additional 102 shares during the period. Finally, Nixon Peabody Trust Co. raised its stake in Illinois Tool Works by 3.4% in the 1st quarter. Nixon Peabody Trust Co. now owns 3,337 shares of the industrial products company's stock valued at $828,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Price Performance

ITW stock traded up $1.58 during midday trading on Friday, reaching $247.69. The company had a trading volume of 604,764 shares, compared to its average volume of 1,013,290. The company has a market capitalization of $72.57 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. The stock has a 50 day moving average price of $239.64 and a 200-day moving average price of $253.13. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 95.39% and a net margin of 21.94%. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Equities research analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a report on Wednesday, May 7th. Robert W. Baird boosted their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Truist Financial lowered their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $253.42.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of the stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director now owns 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.

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.