Private Trust Co. NA Has $758,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Private Trust Co. NA grew its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,893 shares of the industrial products company’s stock after buying an additional 183 shares during the quarter. Private Trust Co. NA’s holdings in Illinois Tool Works were worth $758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Emerald Advisors LLC boosted its holdings in shares of Illinois Tool Works by 3.7% in the fourth quarter. Emerald Advisors LLC now owns 1,684 shares of the industrial products company’s stock worth $441,000 after buying an additional 60 shares during the period. Crown Wealth Group LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth about $234,000. Carmichael Hill & Associates Inc. boosted its holdings in shares of Illinois Tool Works by 3,400.0% in the fourth quarter. Carmichael Hill & Associates Inc. now owns 175 shares of the industrial products company’s stock worth $46,000 after buying an additional 170 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Illinois Tool Works by 24.2% during the fourth quarter. Ballentine Partners LLC now owns 10,261 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 1,996 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $715,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ITW. Citigroup raised their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Barclays raised their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $246.10.

Illinois Tool Works Price Performance

Shares of ITW opened at $262.94 on Friday. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The firm has a market cap of $78.55 billion, a PE ratio of 27.00, a PEG ratio of 3.85 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The firm’s 50 day moving average price is $261.09 and its 200 day moving average price is $249.26.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm posted $2.34 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, March 29th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is 57.49%.

Insider Activity

In other news, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, 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 SEC, which is available at the SEC website. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s 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 in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

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.