First National Trust Co Sells 73 Shares of Illinois Tool Works Inc. (NYSE:ITW)

First National Trust Co lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,766 shares of the industrial products company’s stock after selling 73 shares during the quarter. First National Trust Co’s holdings in Illinois Tool Works were worth $2,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITW. Assetmark Inc. increased its holdings in Illinois Tool Works by 6.4% in the third quarter. Assetmark Inc. now owns 1,903 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 114 shares during the last quarter. Harbour Investments Inc. increased its holdings in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Illinois Tool Works by 6.8% in the third quarter. Ashton Thomas Private Wealth LLC now owns 1,967 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 126 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in Illinois Tool Works by 1.1% in the third quarter. Pinnacle Financial Partners Inc now owns 4,737 shares of the industrial products company’s stock valued at $1,241,000 after purchasing an additional 52 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Illinois Tool Works by 1.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,462 shares of the industrial products company’s stock valued at $1,431,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.7 %

ITW stock opened at $254.72 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market capitalization of $74.76 billion, a P/E ratio of 21.73, a P/E/G ratio of 4.56 and a beta of 1.13. The business has a 50-day moving average of $257.83 and a 200-day moving average of $260.27. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted 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 return on equity of 95.39% and a net margin of 21.94%. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ITW shares. Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Jefferies Financial Group boosted 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. Finally, JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $269.10.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company’s stock.

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.