Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Trust Co of the South

Trust Co of the South reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,408 shares of the industrial products company’s stock after selling 301 shares during the period. Trust Co of the South’s holdings in Illinois Tool Works were worth $378,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Park Avenue Securities LLC raised its position in shares of Illinois Tool Works by 3.2% during the 1st quarter. Park Avenue Securities LLC now owns 13,952 shares of the industrial products company’s stock worth $3,744,000 after purchasing an additional 431 shares during the last quarter. M. Kraus & Co raised its position in shares of Illinois Tool Works by 0.5% during the 1st quarter. M. Kraus & Co now owns 43,951 shares of the industrial products company’s stock worth $11,793,000 after purchasing an additional 240 shares during the last quarter. Wedmont Private Capital raised its position in shares of Illinois Tool Works by 16.4% during the 1st quarter. Wedmont Private Capital now owns 2,787 shares of the industrial products company’s stock worth $732,000 after purchasing an additional 393 shares during the last quarter. Shotwell Rutter Baer Inc acquired a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $290,000. Finally, Montecito Bank & Trust raised its holdings in Illinois Tool Works by 10.8% in the 1st quarter. Montecito Bank & Trust now owns 4,295 shares of the industrial products company’s stock valued at $1,152,000 after acquiring an additional 420 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 1.2 %

Shares of ITW stock traded down $2.93 on Friday, reaching $240.40. 1,732,419 shares of the stock were exchanged, compared to its average volume of 1,180,325. The stock has a market cap of $71.74 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The firm has a 50 day moving average of $244.72 and a two-hundred day moving average of $254.14. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, with a total value of $185,085.50. Following the transaction, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ITW has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Citigroup boosted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday. Barclays cut their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Finally, Wells Fargo & Company cut their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target of $256.44.

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.