Webster Bank N. A. Has $2.14 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Webster Bank N. A. lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,955 shares of the industrial products company’s stock after selling 243 shares during the quarter. Webster Bank N. A.’s holdings in Illinois Tool Works were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP grew its position in shares of Illinois Tool Works by 93.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 30,918 shares of the industrial products company’s stock worth $7,121,000 after buying an additional 14,936 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Illinois Tool Works by 316.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 329,548 shares of the industrial products company’s stock worth $75,898,000 after buying an additional 250,349 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Illinois Tool Works by 92.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,230 shares of the industrial products company’s stock worth $3,508,000 after buying an additional 7,330 shares during the period. Bank of Nova Scotia grew its position in shares of Illinois Tool Works by 38.6% during the 3rd quarter. Bank of Nova Scotia now owns 34,401 shares of the industrial products company’s stock worth $7,923,000 after buying an additional 9,582 shares during the period. Finally, CWA Asset Management Group LLC grew its position in shares of Illinois Tool Works by 17.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 3,557 shares of the industrial products company’s stock worth $819,000 after buying an additional 534 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.4 %

ITW traded up $0.96 during trading on Friday, reaching $236.96. The company had a trading volume of 3,403,554 shares, compared to its average volume of 1,001,118. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The business’s fifty day moving average price is $243.51 and its 200 day moving average price is $253.82. The company has a market cap of $70.71 billion, a P/E ratio of 23.36, a PEG ratio of 3.53 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. 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 previous year, the firm posted $2.33 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 55.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITW. Truist Financial lifted their price target on shares of Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday, May 1st. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup boosted 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. Finally, Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $256.44.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the transaction, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works 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.