Security National Bank of SO Dak Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Security National Bank of SO Dak increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,444 shares of the industrial products company’s stock after purchasing an additional 435 shares during the period. Security National Bank of SO Dak’s holdings in Illinois Tool Works were worth $1,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Steele Capital Management Inc. grew its holdings in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after buying an additional 40 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in Illinois Tool Works by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after buying an additional 42 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Illinois Tool Works by 3.0% during the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after buying an additional 44 shares in the last quarter. Carson Advisory Inc. grew its holdings in Illinois Tool Works by 3.0% during the 1st quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock valued at $417,000 after buying an additional 45 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its holdings in Illinois Tool Works by 0.8% during the 1st quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 46 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ITW shares. Truist Financial cut their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI lowered their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Barclays lowered their price objective on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.22.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $262.05 on Friday. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a market capitalization of $77.80 billion, a P/E ratio of 25.84, a P/E/G ratio of 4.09 and a beta of 1.10. The stock has a 50 day moving average price of $246.88 and a 200 day moving average price of $248.25.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $2.41 EPS. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.29%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

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.