Security National Bank of SO Dak Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Security National Bank of SO Dak boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,576 shares of the industrial products company’s stock after acquiring an additional 197 shares during the period. Security National Bank of SO Dak’s holdings in Illinois Tool Works were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ITW. Norges Bank purchased a new stake in Illinois Tool Works in the fourth quarter valued at about $806,291,000. Raymond James Financial Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $203,949,000. Cerity Partners LLC raised its position in shares of Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after purchasing an additional 655,341 shares during the last quarter. Northern Trust Corp boosted its stake in Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock worth $3,465,570,000 after purchasing an additional 508,188 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after purchasing an additional 437,397 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the company’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 transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Citigroup lowered their price target on Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Evercore ISI dropped their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $253.67.

Illinois Tool Works Stock Up 1.2%

Illinois Tool Works stock opened at $248.10 on Friday. The business’s 50-day moving average price is $241.83 and its 200 day moving average price is $255.67. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $72.69 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations 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 revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.44 EPS. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.42%. Illinois Tool Works’s payout ratio is 52.77%.

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.