FineMark National Bank & Trust Has $1.31 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

FineMark National Bank & Trust boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,996 shares of the industrial products company’s stock after acquiring an additional 130 shares during the period. FineMark National Bank & Trust’s holdings in Illinois Tool Works were worth $1,309,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ITW. NBC Securities Inc. acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $166,000. Victory Capital Management Inc. grew its stake in Illinois Tool Works by 2.7% in the third quarter. Victory Capital Management Inc. now owns 368,014 shares of the industrial products company’s stock valued at $84,757,000 after acquiring an additional 9,660 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Illinois Tool Works by 4.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,868 shares of the industrial products company’s stock worth $2,042,000 after acquiring an additional 371 shares in the last quarter. XML Financial LLC lifted its holdings in shares of Illinois Tool Works by 14.6% during the 3rd quarter. XML Financial LLC now owns 2,998 shares of the industrial products company’s stock valued at $690,000 after purchasing an additional 381 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at approximately $280,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW traded down $1.38 during midday trading on Friday, reaching $240.07. The stock had a trading volume of 997,894 shares, compared to its average volume of 1,028,236. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. The firm has a 50 day simple moving average of $254.61 and a 200-day simple moving average of $253.96. The firm has a market cap of $71.64 billion, a PE ratio of 23.68, a P/E/G ratio of 3.58 and a beta of 1.14. Illinois Tool Works Inc. has a one year low of $217.06 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.24 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is 55.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of Illinois Tool Works from $230.00 to $229.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus upped their price target on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Citigroup lifted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $257.78.

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.