Security National Bank of Sioux City Iowa IA Purchases 118 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Security National Bank of Sioux City Iowa IA lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,362 shares of the industrial products company’s stock after buying an additional 118 shares during the period. Security National Bank of Sioux City Iowa IA’s holdings in Illinois Tool Works were worth $1,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Ropes Wealth Advisors LLC lifted its position in Illinois Tool Works by 0.7% during the first quarter. Ropes Wealth Advisors LLC now owns 10,886 shares of the industrial products company’s stock valued at $2,573,000 after purchasing an additional 78 shares during the period. Panagora Asset Management Inc. lifted its position in Illinois Tool Works by 68.3% during the first quarter. Panagora Asset Management Inc. now owns 12,976 shares of the industrial products company’s stock valued at $2,874,000 after purchasing an additional 5,266 shares during the period. TAP Consulting LLC lifted its position in Illinois Tool Works by 869.9% during the first quarter. TAP Consulting LLC now owns 20,446 shares of the industrial products company’s stock valued at $4,529,000 after purchasing an additional 18,338 shares during the period. Ritholtz Wealth Management bought a new position in Illinois Tool Works during the first quarter valued at approximately $246,000. Finally, Oak Ridge Investments LLC bought a new position in Illinois Tool Works during the first quarter valued at approximately $684,000. Hedge funds and other institutional investors own 77.80% of the company’s stock.

A number of research analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $214.00 to $229.00 and gave the company a “neutral” rating in a research report on Friday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $203.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on shares of Illinois Tool Works from $225.00 to $235.00 and gave the stock a “market perform” rating in a research report on Monday, May 3rd. Credit Suisse Group increased their price target on shares of Illinois Tool Works from $242.00 to $261.00 and gave the stock an “outperform” rating in a research report on Monday, May 3rd. Finally, Morgan Stanley increased their price target on shares of Illinois Tool Works from $189.00 to $207.00 and gave the stock an “underweight” rating in a research report on Monday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $224.73.

ITW traded down $0.71 during trading on Friday, hitting $231.97. 13,094 shares of the company traded hands, compared to its average volume of 1,060,029. The company has a market cap of $73.28 billion, a P/E ratio of 33.38, a PEG ratio of 2.35 and a beta of 1.10. The stock has a 50-day moving average price of $230.05. Illinois Tool Works Inc. has a 1 year low of $160.34 and a 1 year high of $242.07. The company has a debt-to-equity ratio of 2.32, a quick ratio of 2.02 and a current ratio of 2.50.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, April 30th. The industrial products company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.21. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Illinois Tool Works had a net margin of 17.18% and a return on equity of 78.80%. Illinois Tool Works’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post 8.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 1.97%. Illinois Tool Works’s payout ratio is currently 65.14%.

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,820 shares of Illinois Tool Works stock in a transaction on Friday, May 7th. The shares were sold at an average price of $237.32, for a total value of $1,618,522.40. Following the completion of the transaction, the chief accounting officer now directly owns 14,622 shares of the company’s stock, valued at approximately $3,470,093.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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