Security National Bank of Sioux City Iowa IA Has $1.22 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Security National Bank of Sioux City Iowa IA trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,814 shares of the industrial products company’s stock after selling 192 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Illinois Tool Works were worth $1,221,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Security National Bank of SO Dak raised its stake in Illinois Tool Works by 2.7% in the fourth quarter. Security National Bank of SO Dak now owns 7,576 shares of the industrial products company’s stock valued at $1,921,000 after purchasing an additional 197 shares in the last quarter. Rafferty Asset Management LLC increased its stake in shares of Illinois Tool Works by 10.8% in the fourth quarter. Rafferty Asset Management LLC now owns 25,101 shares of the industrial products company’s stock valued at $6,365,000 after buying an additional 2,448 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Illinois Tool Works during the fourth quarter valued at $677,000. Quantinno Capital Management LP lifted its holdings in Illinois Tool Works by 48.7% during the 4th quarter. Quantinno Capital Management LP now owns 46,138 shares of the industrial products company’s stock worth $11,699,000 after buying an additional 15,120 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $1,006,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITW. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price target for the company. in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Finally, Truist Financial cut their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $253.67.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $248.10 on Friday. The stock has a fifty day moving average of $241.83 and a 200-day moving average of $255.67. The stock has a market cap of $72.69 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period last year, the firm earned $2.44 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.77%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 over the last 90 days. Corporate 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.