First Citizens Bank & Trust Co. Has $237,000 Position in Illinois Tool Works Inc. (ITW)

First Citizens Bank & Trust Co. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,653 shares of the industrial products company’s stock after selling 691 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Illinois Tool Works were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ITW. Ledyard National Bank raised its stake in shares of Illinois Tool Works by 3.4% in the first quarter. Ledyard National Bank now owns 7,859 shares of the industrial products company’s stock worth $1,128,000 after purchasing an additional 260 shares during the last quarter. WoodTrust Financial Corp raised its stake in shares of Illinois Tool Works by 5.8% in the first quarter. WoodTrust Financial Corp now owns 15,093 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 825 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Illinois Tool Works by 11.8% in the first quarter. Valeo Financial Advisors LLC now owns 713 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 75 shares during the last quarter. Physicians Financial Services Inc. raised its stake in shares of Illinois Tool Works by 97.0% in the first quarter. Physicians Financial Services Inc. now owns 4,726 shares of the industrial products company’s stock worth $678,000 after purchasing an additional 2,327 shares during the last quarter. Finally, Calamos Advisors LLC raised its stake in shares of Illinois Tool Works by 1.0% in the first quarter. Calamos Advisors LLC now owns 58,327 shares of the industrial products company’s stock worth $8,372,000 after purchasing an additional 587 shares during the last quarter. Institutional investors own 78.66% of the company’s stock.

In other Illinois Tool Works news, EVP Juan Valls sold 52,265 shares of Illinois Tool Works stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $142.41, for a total value of $7,443,058.65. Following the sale, the executive vice president now owns 78,620 shares in the company, valued at $11,196,274.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of Illinois Tool Works stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the sale, the insider now owns 71,927 shares in the company, valued at approximately $10,486,237.33. The disclosure for this sale can be found here. Insiders sold 128,970 shares of company stock worth $18,348,472 in the last 90 days. Company insiders own 0.87% of the company’s stock.

Shares of NYSE:ITW opened at $157.75 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $50.88 billion, a PE ratio of 20.76, a PEG ratio of 2.54 and a beta of 1.19. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $160.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the business posted $1.70 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Illinois Tool Works Inc. will post 7.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

ITW has been the topic of several analyst reports. Morgan Stanley lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $131.00 to $115.00 in a report on Tuesday, December 18th. JPMorgan Chase & Co. lowered Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Thursday, January 10th. Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. Finally, Citigroup lowered Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 target price on the stock. in a report on Monday, January 14th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Illinois Tool Works has a consensus rating of “Hold” and an average target price of $136.60.

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About Illinois Tool Works

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.

See Also: Index Funds

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

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