Trust Point Inc. Takes $715,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Trust Point Inc. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,731 shares of the industrial products company’s stock, valued at approximately $715,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Briaud Financial Planning Inc acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $29,000. Quarry LP raised its position in shares of Illinois Tool Works by 52.7% during the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $38,000. Finally, Compass Wealth Management LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth $44,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ITW. Stifel Nicolaus increased their target price on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Citigroup increased their target price on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Barclays raised their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a report on Tuesday. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Finally, Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $277.00 to $240.00 in a report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $246.10.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $261.67 on Friday. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The firm’s 50 day moving average is $261.08 and its 200-day moving average is $249.09. The firm has a market capitalization of $78.17 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 4.54 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

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

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors 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 yield of 2.14%. The ex-dividend date is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Insider Buying and Selling at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 over the last quarter. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works 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.