Pioneer Trust Bank N A OR Acquires 2,404 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Pioneer Trust Bank N A OR lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,083 shares of the industrial products company’s stock after purchasing an additional 2,404 shares during the period. Illinois Tool Works comprises approximately 2.0% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 18th largest holding. Pioneer Trust Bank N A OR’s holdings in Illinois Tool Works were worth $7,881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baron Wealth Management LLC boosted its stake in Illinois Tool Works by 4.5% in the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares during the last quarter. Harbour Investments Inc. grew its holdings in Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock valued at $937,000 after purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC increased its position in Illinois Tool Works by 3.0% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after buying an additional 46 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of Illinois Tool Works by 0.5% in the fourth quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 47 shares during the period. Finally, Lyell Wealth Management LP lifted its position in shares of Illinois Tool Works by 4.9% during the 4th quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after buying an additional 47 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ITW. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Evercore ISI reduced their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $268.30.

Illinois Tool Works Stock Performance

Shares of ITW opened at $225.25 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The stock has a 50-day moving average price of $256.77 and a 200-day moving average price of $260.40. The company has a market cap of $66.08 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 12-month low of $224.94 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

About Illinois Tool Works

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.