Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Ledyard National Bank

Ledyard National Bank raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,848 shares of the industrial products company’s stock after purchasing an additional 205 shares during the period. Ledyard National Bank’s holdings in Illinois Tool Works were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. lifted its stake in Illinois Tool Works by 1.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the last quarter. Rockline Wealth Management LLC bought a new position in Illinois Tool Works during the fourth quarter worth $4,180,000. Wesbanco Bank Inc. lifted its stake in Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 1,152 shares during the last quarter. Ziegler Capital Management LLC bought a new position in Illinois Tool Works during the fourth quarter worth $224,000. Finally, Tyche Wealth Partners LLC bought a new position in Illinois Tool Works during the fourth quarter worth $2,972,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Trading Down 1.2 %

Shares of NYSE:ITW traded down $2.97 during midday trading on Tuesday, reaching $246.27. The company had a trading volume of 835,521 shares, compared to its average volume of 1,241,014. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The firm has a market cap of $73.57 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The company has a fifty day simple moving average of $259.95 and a two-hundred day simple moving average of $251.70.

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

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analyst Weigh In

ITW has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Citigroup raised 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. 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. 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, April 2nd. Finally, Wells Fargo & Company lowered 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. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $257.00.

Insiders Place Their Bets

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.29, for a total value of $1,493,401.83. Following the transaction, the chief accounting officer now directly owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 in the last three months. Company insiders own 1.26% of the company’s stock.

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.