FineMark National Bank & Trust Sells 157 Shares of Illinois Tool Works Inc. (NYSE:ITW)

FineMark National Bank & Trust lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,761 shares of the industrial products company’s stock after selling 157 shares during the quarter. FineMark National Bank & Trust’s holdings in Illinois Tool Works were worth $1,461,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Millstone Evans Group LLC bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $33,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ITW. Truist Financial raised their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Barclays set a $260.00 target price on Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday, March 10th. Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average price target of $269.10.

Insider Buying and Selling

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the transaction, the chief financial officer now owns 50,502 shares in the company, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last three months. 1.26% of the stock is currently owned by company insiders.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE:ITW opened at $254.93 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The firm has a market cap of $74.82 billion, a P/E ratio of 21.75, a P/E/G ratio of 4.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company’s 50-day moving average price is $258.65 and its two-hundred day moving average price is $260.74.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is 51.19%.

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.