Bank of Marin Has $386,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Bank of Marin raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,523 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Bank of Marin’s holdings in Illinois Tool Works were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ITW. Baron Wealth Management LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $228,000. Windle Wealth LLC boosted its stake in shares of Illinois Tool Works by 3.4% during the 3rd quarter. Windle Wealth LLC now owns 26,093 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 851 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Illinois Tool Works by 2.0% in the 3rd quarter. Pathstone Holdings LLC now owns 51,783 shares of the industrial products company’s stock valued at $13,590,000 after purchasing an additional 994 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Illinois Tool Works by 4.8% in the 3rd quarter. Caprock Group LLC now owns 8,650 shares of the industrial products company’s stock valued at $2,280,000 after purchasing an additional 399 shares during the last quarter. Finally, OneAscent Financial Services LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at $336,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ITW shares. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus reduced their price objective on shares of 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. Finally, Evercore ISI dropped their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $254.58 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm’s 50 day moving average is $258.07 and its 200-day moving average is $260.48. The firm has a market capitalization of $74.72 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 4.56 and a beta of 1.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. 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%.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

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.