Security National Bank of SO Dak trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,637 shares of the industrial products company’s stock after selling 28 shares during the quarter. Illinois Tool Works comprises approximately 1.9% of Security National Bank of SO Dak’s portfolio, making the stock its 10th biggest position. Security National Bank of SO Dak’s holdings in Illinois Tool Works were worth $1,667,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Omnia Family Wealth LLC increased its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares in the last quarter. Harding Loevner LP bought a new stake in Illinois Tool Works in the 2nd quarter worth about $115,000. Salem Investment Counselors Inc. increased its holdings in Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares in the last quarter. Washington Trust Bank increased its holdings in Illinois Tool Works by 1.1% in the 2nd quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares in the last quarter. Finally, FNY Partners Fund LP bought a new stake in Illinois Tool Works in the 1st quarter worth about $132,000. Institutional investors own 74.65% of the company’s stock.
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Several research firms recently commented on ITW. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a report on Wednesday, August 16th. Royal Bank Of Canada lifted their price objective on Illinois Tool Works from $143.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 24th. Finally, BidaskClub downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and a consensus price target of $157.27.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
In related news, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total transaction of $7,620,526.06. Following the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the sale, the insider now directly owns 18,622 shares in the company, valued at $2,886,410. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,506 shares of company stock valued at $19,801,832. Company insiders own 0.90% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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