First National Trust Co Has $2.49 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

First National Trust Co lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,509 shares of the industrial products company’s stock after selling 50 shares during the period. First National Trust Co’s holdings in Illinois Tool Works were worth $2,491,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AJOVista LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $94,000. Provence Wealth Management Group boosted its stake in Illinois Tool Works by 49,450.0% in the 4th quarter. Provence Wealth Management Group now owns 991 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 989 shares during the period. Sapient Capital LLC bought a new position in Illinois Tool Works during the 4th quarter worth about $1,700,000. Axxcess Wealth Management LLC raised its stake in shares of Illinois Tool Works by 98.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 13,634 shares of the industrial products company’s stock valued at $3,571,000 after purchasing an additional 6,770 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of Illinois Tool Works by 19.7% in the fourth quarter. Merit Financial Group LLC now owns 7,987 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 1,314 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Performance

NYSE ITW traded up $1.88 during trading on Friday, reaching $243.92. 929,954 shares of the company’s stock were exchanged, compared to its average volume of 1,218,462. Illinois Tool Works Inc. has a fifty-two week low of $217.06 and a fifty-two week high of $271.15. The stock has a market capitalization of $72.87 billion, a P/E ratio of 24.06, a PEG ratio of 3.55 and a beta of 1.14. The business has a 50 day moving average price of $258.75 and a 200-day moving average price of $251.73. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business earned $2.33 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.35 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 5,827 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the sale, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. Insiders have sold a total of 139,471 shares of company stock valued at $35,970,816 in the last three months. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ITW. Truist Financial increased their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays decreased their target price on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating for the company in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $257.78.

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.