Parkside Financial Bank & Trust Purchases 106 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Parkside Financial Bank & Trust increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,229 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. Parkside Financial Bank & Trust’s holdings in Illinois Tool Works were worth $322,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in Illinois Tool Works by 316.6% in the 4th quarter. Larson Financial Group LLC now owns 2,354 shares of the industrial products company’s stock worth $617,000 after buying an additional 1,789 shares during the last quarter. RWA Wealth Partners LLC increased its holdings in Illinois Tool Works by 375.7% in the 4th quarter. RWA Wealth Partners LLC now owns 11,135 shares of the industrial products company’s stock worth $2,917,000 after acquiring an additional 8,794 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in Illinois Tool Works by 17.6% in the 4th quarter. Sage Mountain Advisors LLC now owns 1,440 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 215 shares in the last quarter. Duality Advisers LP bought a new position in Illinois Tool Works in the 4th quarter worth approximately $1,204,000. Finally, MCF Advisors LLC boosted its stake in Illinois Tool Works by 2.7% in the 4th quarter. MCF Advisors LLC now owns 1,831 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 48 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total value of $1,493,401.83. Following the sale, the chief accounting officer now directly owns 8,870 shares in the company, valued at approximately $2,273,292.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. 1.26% of the stock is currently owned by corporate insiders.

Illinois Tool Works Trading Down 0.1 %

Shares of Illinois Tool Works stock traded down $0.21 during trading hours on Wednesday, reaching $250.43. The stock had a trading volume of 241,709 shares, compared to its average volume of 1,233,286. The firm has a 50 day simple moving average of $260.38 and a two-hundred day simple moving average of $251.30. The firm has a market capitalization of $74.81 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business posted $2.34 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ITW shares. Stifel Nicolaus increased 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. Truist Financial started coverage on Illinois Tool Works in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Wells Fargo & Company lowered shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $257.00.

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.