Illinois Tool Works Inc. $ITW Shares Purchased by Vestor Capital LLC

Vestor Capital LLC lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 328.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 61,074 shares of the industrial products company’s stock after buying an additional 46,815 shares during the period. Vestor Capital LLC’s holdings in Illinois Tool Works were worth $15,713,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ITW. JFS Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 21.5% during the second quarter. JFS Wealth Advisors LLC now owns 226 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 40 shares in the last quarter. Summit Wealth Group LLC Co. grew its stake in Illinois Tool Works by 3.4% in the 3rd quarter. Summit Wealth Group LLC Co. now owns 1,311 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 43 shares during the period. Cushing Capital Partners LLC increased its position in shares of Illinois Tool Works by 1.6% during the 3rd quarter. Cushing Capital Partners LLC now owns 2,939 shares of the industrial products company’s stock valued at $756,000 after purchasing an additional 46 shares during the last quarter. MCF Advisors LLC grew its position in Illinois Tool Works by 2.1% during the second quarter. MCF Advisors LLC now owns 2,281 shares of the industrial products company’s stock valued at $620,000 after buying an additional 48 shares during the period. Finally, Lodestone Wealth Management LLC increased its holdings in Illinois Tool Works by 42.1% during the third quarter. Lodestone Wealth Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after buying an additional 48 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ernest Santi sold 60,000 shares of Illinois Tool Works stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $292.87, for a total transaction of $17,572,200.00. Following the transaction, the director directly owned 266,333 shares in the company, valued at approximately $78,000,945.71. The trade was a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $289.22, for a total value of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares in the company, valued at $981,612.68. This trade represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 101,708 shares of company stock worth $29,546,740. 0.83% of the stock is owned by insiders.

Illinois Tool Works Trading Up 1.9%

Illinois Tool Works stock opened at $286.41 on Tuesday. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15. The business’s fifty day moving average is $271.98 and its 200 day moving average is $271.53. The stock has a market capitalization of $81.40 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.22 and a beta of 0.92. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.29 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.03. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.26 billion. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.81 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 11.49 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 61.32%.

Analysts Set New Price Targets

Several equities analysts recently commented on ITW shares. Truist Financial reiterated a “hold” rating and issued a $293.00 price objective (down from $297.00) on shares of Illinois Tool Works in a research note on Wednesday, October 28th. Citigroup cut their price objective on shares of Illinois Tool Works from $317.00 to $310.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $270.00 price objective on shares of Illinois Tool Works in a report on Tuesday, October 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $276.33.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (NYSE: ITW) is a diversified manufacturer serving industrial and commercial customers around the world. Founded in 1912, the company is known for its decentralized operating model and focus on specialized products and solutions.

ITW’s businesses make products and equipment for a range of markets, including automotive, food service, construction, welding, and testing and measurement. Its offerings include food-service equipment, welding systems and consumables, automotive components, construction products, polymers and fluids, and laboratory and electronics testing equipment.

The company serves customers across North America, Europe, Asia, and other international markets through its manufacturing and sales operations.