First Financial Corp IN Sells 311 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First Financial Corp IN trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 74.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 104 shares of the industrial products company’s stock after selling 311 shares during the period. First Financial Corp IN’s holdings in Illinois Tool Works were worth $28,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of ITW. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Illinois Tool Works during the 3rd quarter worth $1,152,000. Operose Advisors LLC grew its holdings in Illinois Tool Works by 73.2% during the 3rd quarter. Operose Advisors LLC now owns 407 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 172 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Illinois Tool Works by 7.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 31,632 shares of the industrial products company’s stock worth $7,285,000 after acquiring an additional 2,088 shares during the period. Westfield Capital Management Co. LP grew its holdings in Illinois Tool Works by 93.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 30,918 shares of the industrial products company’s stock worth $7,121,000 after acquiring an additional 14,936 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Illinois Tool Works by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 137,630 shares of the industrial products company’s stock worth $31,698,000 after acquiring an additional 698 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 0.3 %

ITW stock traded up $0.65 during mid-day trading on Wednesday, reaching $238.60. 252,062 shares of the company traded hands, compared to its average volume of 1,170,496. The stock has a market cap of $71.20 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The firm’s 50 day moving average price is $244.23 and its 200 day moving average price is $254.14.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business earned $2.33 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that Illinois Tool Works Inc. will post 10.22 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.35%. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ITW shares. Stifel Nicolaus increased their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Company reduced their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial raised their target price on Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Citigroup raised their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $256.44.

Insiders Place Their Bets

In related news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the acquisition, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.