Trust Co. of Virginia VA Has $879,000 Stake in Illinois Tool Works Inc. (NYSE:ITW)

Trust Co. of Virginia VA decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 21.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,277 shares of the industrial products company’s stock after selling 889 shares during the quarter. Trust Co. of Virginia VA’s holdings in Illinois Tool Works were worth $879,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth about $26,000. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Security National Bank bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Truist Financial boosted their price target on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus upped their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Citigroup upped their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $256.44.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction dated Thursday, June 13th. The shares were bought at an average cost 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 of the company’s stock, valued at $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Trading Up 0.4 %

ITW traded up $0.96 during trading on Friday, hitting $236.96. The company’s stock had a trading volume of 3,403,554 shares, compared to its average volume of 1,001,118. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock’s fifty day moving average price is $243.51 and its 200-day moving average price is $253.82. The firm has a market capitalization 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 issued its quarterly earnings results 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 period in the previous year, the firm earned $2.33 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.22 EPS for the current year.

Illinois Tool Works Announces Dividend

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

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.