Community Bank N.A. Trims Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Community Bank N.A. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 20,237 shares of the industrial products company’s stock after selling 165 shares during the period. Community Bank N.A.’s holdings in Illinois Tool Works were worth $5,301,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ITW. Briaud Financial Planning Inc acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired 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 in the fourth quarter worth $28,000. Bruce G. Allen Investments LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $29,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total value of $12,741,500.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW traded up $1.07 during trading hours on Wednesday, hitting $251.71. The company had a trading volume of 1,252,463 shares, compared to its average volume of 1,246,599. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15. The company has a market cap of $75.20 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13. The business has a 50 day moving average of $260.33 and a 200-day moving average of $251.30.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.22%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ITW shares. Citigroup boosted their price target 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. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Truist Financial began coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Barclays boosted their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $257.00.

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.