Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Park National Corp OH

Park National Corp OH lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,900 shares of the industrial products company’s stock after selling 543 shares during the period. Park National Corp OH’s holdings in Illinois Tool Works were worth $2,388,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $26,000. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at $28,000. Security National Bank bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $28,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Illinois Tool Works in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ITW shares. Stifel Nicolaus boosted their price target 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. Barclays cut their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. Truist Financial raised their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $256.44.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.26% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

NYSE ITW opened at $240.48 on Wednesday. The company has a 50 day simple moving average of $245.64 and a 200-day simple moving average of $254.36. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The firm has a market capitalization of $71.76 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter last year, the business posted $2.33 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

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.