SVB Wealth LLC Has $2.09 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

SVB Wealth LLC grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,992 shares of the industrial products company’s stock after buying an additional 764 shares during the quarter. SVB Wealth LLC’s holdings in Illinois Tool Works were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Rockline Wealth Management LLC bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $4,180,000. Wesbanco Bank Inc. increased its position in Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after buying an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $224,000. DNB Asset Management AS boosted its stake in shares of Illinois Tool Works by 8.0% during the 4th quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after acquiring an additional 10,062 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at about $1,770,000. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In related news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,321,252.45. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock valued at $48,712,316 over the last three months. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $249.54 on Thursday. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.69 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The business has a fifty day simple moving average of $260.75 and a 200 day simple moving average of $250.66. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 57.49%.

Analyst Ratings Changes

ITW has been the subject of a number of recent analyst reports. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Barclays lifted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Truist Financial started coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $257.00.

About Illinois Tool Works

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.