Pioneer Trust Bank N A OR Boosts Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Pioneer Trust Bank N A OR boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,489 shares of the industrial products company’s stock after acquiring an additional 1,580 shares during the quarter. Illinois Tool Works accounts for approximately 2.7% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 11th biggest position. Pioneer Trust Bank N A OR’s holdings in Illinois Tool Works were worth $9,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Illinois Tool Works by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in shares of Illinois Tool Works by 150.0% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock worth $294,671,000 after purchasing an additional 675,000 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Illinois Tool Works by 23,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after buying an additional 313,906 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Illinois Tool Works by 77.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 597,186 shares of the industrial products company’s stock worth $137,538,000 after buying an additional 260,679 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Illinois Tool Works by 57.1% in the 3rd quarter. Barclays PLC now owns 699,639 shares of the industrial products company’s stock valued at $161,131,000 after acquiring an additional 254,321 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief accounting officer now owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Randall J. Scheuneman sold 5,827 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the completion of the transaction, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 89,471 shares of company stock valued at $23,248,816 in the last ninety days. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Up 0.7 %

Illinois Tool Works stock traded up $1.62 during trading on Thursday, reaching $249.02. 281,080 shares of the company’s stock were exchanged, compared to its average volume of 1,228,544. The company’s 50-day moving average is $258.17 and its two-hundred day moving average is $252.34. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The firm has a market cap of $74.31 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.59 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. Illinois Tool Works’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. On average, analysts predict that Illinois Tool Works Inc. will post 10.29 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.25%. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Wall Street Analyst Weigh In

ITW has been the subject of several research reports. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial upped their target price on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $257.78.

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.