Webster Bank N. A. Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Webster Bank N. A. grew its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,198 shares of the industrial products company’s stock after buying an additional 205 shares during the period. Webster Bank N. A.’s holdings in Illinois Tool Works were worth $2,147,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky boosted its holdings in shares of Illinois Tool Works by 2.4% in the 4th quarter. Independence Bank of Kentucky now owns 4,548 shares of the industrial products company’s stock valued at $1,191,000 after buying an additional 105 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Illinois Tool Works by 0.8% in the 4th quarter. DAVENPORT & Co LLC now owns 25,131 shares of the industrial products company’s stock worth $6,583,000 after purchasing an additional 204 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its stake in Illinois Tool Works by 2.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,622 shares of the industrial products company’s stock worth $2,782,000 after purchasing an additional 249 shares in the last quarter. Drive Wealth Management LLC boosted its stake in Illinois Tool Works by 4.0% in the 4th quarter. Drive Wealth Management LLC now owns 1,485 shares of the industrial products company’s stock worth $391,000 after purchasing an additional 57 shares in the last quarter. Finally, Berkshire Bank boosted its stake in Illinois Tool Works by 5.9% in the 4th quarter. Berkshire Bank now owns 3,316 shares of the industrial products company’s stock worth $869,000 after purchasing an additional 186 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 5,827 shares of Illinois Tool Works stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.29, for a total transaction of $1,493,401.83. Following the sale, the chief accounting officer now owns 8,870 shares of the company’s stock, valued at approximately $2,273,292.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock valued at $48,712,316. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

NYSE:ITW opened at $264.25 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The firm has a market cap of $78.94 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 4.53 and a beta of 1.13. The company has a 50 day moving average price of $261.08 and a 200-day moving average price of $249.00. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, March 29th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Illinois Tool Works’s payout ratio is presently 57.49%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITW. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Citigroup lifted their target price on shares of Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research note on Monday, December 11th. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays lifted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average price target of $246.10.

Check Out Our Latest Stock Report on ITW

About Illinois Tool Works

(Free Report)

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.

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

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