WASHINGTON TRUST Co Grows Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

WASHINGTON TRUST Co boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,649 shares of the industrial products company’s stock after buying an additional 95 shares during the quarter. WASHINGTON TRUST Co’s holdings in Illinois Tool Works were worth $432,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ITW. Cibc World Market Inc. grew its position in Illinois Tool Works by 3.7% during the first quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock valued at $2,024,000 after buying an additional 348 shares during the period. Cetera Investment Advisers boosted its position in shares of Illinois Tool Works by 4.2% in the first quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock worth $1,899,000 after purchasing an additional 368 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Illinois Tool Works by 54.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 1,011 shares during the period. Zions Bancorporation N.A. boosted its position in shares of Illinois Tool Works by 9.9% in the first quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 217 shares during the period. Finally, Covestor Ltd boosted its position in shares of Illinois Tool Works by 70.7% in the first quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 309 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Up 0.0 %

ITW stock traded up $0.03 during trading on Thursday, hitting $268.24. The company had a trading volume of 284,256 shares, compared to its average volume of 1,283,474. The firm has a market capitalization of $80.13 billion, a P/E ratio of 27.54, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The company has a 50 day simple moving average of $259.83 and a 200-day simple moving average of $247.89. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ITW. Barclays upped their price target on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Finally, Citigroup upped their price target on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research note on Monday, December 11th. Five investment 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $245.50.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’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 completion of the transaction, 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 accessible through this link. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the firm’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 completion of the transaction, 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 accessible through this link. Also, EVP Sharon Szafranski sold 801 shares of the firm’s 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 transaction, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock worth $48,712,316 in the last three months. Corporate insiders own 0.88% 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.