CENTRAL TRUST Co Has $2.58 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

CENTRAL TRUST Co decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,848 shares of the industrial products company’s stock after selling 70 shares during the period. CENTRAL TRUST Co’s holdings in Illinois Tool Works were worth $2,580,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ITW. Cadinha & Co. LLC boosted its stake in Illinois Tool Works by 26.0% during the 4th quarter. Cadinha & Co. LLC now owns 1,239 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 256 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 25.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,807 shares of the industrial products company’s stock worth $4,402,000 after purchasing an additional 3,433 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $205,000. Legacy Trust increased its position in shares of Illinois Tool Works by 6.5% in the 4th quarter. Legacy Trust now owns 1,385 shares of the industrial products company’s stock valued at $363,000 after buying an additional 85 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Illinois Tool Works by 23,183.6% during the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock worth $82,579,000 after buying an additional 313,906 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Activity

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at $56,235,056.60. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock valued at $48,712,316 over the last three months. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 0.4 %

Shares of Illinois Tool Works stock traded up $1.16 on Friday, reaching $262.94. 908,509 shares of the company were exchanged, compared to its average volume of 1,577,191. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The company has a 50-day moving average of $261.09 and a 200 day moving average of $249.26. The company has a market capitalization of $78.55 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.85 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

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

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research analyst reports. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Barclays lifted their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday. Truist Financial started coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Finally, Stifel Nicolaus boosted their price target on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $246.10.

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.