Parkside Financial Bank & Trust Has $322,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Parkside Financial Bank & Trust grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 9.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,229 shares of the industrial products company’s stock after acquiring an additional 106 shares during the period. Parkside Financial Bank & Trust’s holdings in Illinois Tool Works were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after acquiring an additional 1,238,239 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Illinois Tool Works by 1.9% in the third quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after acquiring an additional 244,145 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after purchasing an additional 97,568 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Illinois Tool Works by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 1,742,605 shares of the industrial products company’s stock valued at $401,352,000 after purchasing an additional 22,238 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after purchasing an additional 675,000 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $0.21 during mid-day trading on Wednesday, hitting $250.43. The company had a trading volume of 241,709 shares, compared to its average volume of 1,233,286. The company has a market capitalization of $74.81 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 3.67 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The stock’s 50-day moving average price is $260.38 and its 200-day moving average price is $251.30.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $2.34 EPS. Illinois Tool Works’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is currently 57.49%.

Insider Activity at Illinois Tool Works

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

Analyst Ratings Changes

Several equities research analysts have commented on the company. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Truist Financial initiated coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Citigroup upped their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays upped their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Four investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $257.00.

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.