Illinois Tool Works Inc. (NYSE:ITW) Shares Purchased by Vest Financial LLC

Vest Financial LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 222,115 shares of the industrial products company’s stock after buying an additional 18,587 shares during the period. Illinois Tool Works accounts for approximately 1.0% of Vest Financial LLC’s holdings, making the stock its 24th largest holding. Vest Financial LLC owned approximately 0.08% of Illinois Tool Works worth $56,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC grew its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter worth $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the third quarter valued at $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group increased their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Up 0.3 %

ITW stock opened at $255.77 on Friday. The firm has a market cap of $75.53 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a fifty day moving average price of $260.34 and a two-hundred day moving average price of $257.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Research analysts predict that Illinois Tool Works Inc. will post 10.14 EPS for the current year.

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.