Pioneer Trust Bank N A OR Sells 1,195 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Pioneer Trust Bank N A OR lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,888 shares of the industrial products company's stock after selling 1,195 shares during the period. Illinois Tool Works makes up 2.0% of Pioneer Trust Bank N A OR's holdings, making the stock its 19th largest position. Pioneer Trust Bank N A OR's holdings in Illinois Tool Works were worth $7,413,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Illinois Tool Works by 5.3% during the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock valued at $1,399,000 after purchasing an additional 277 shares during the period. Proficio Capital Partners LLC increased its position in shares of Illinois Tool Works by 44.9% during the 4th quarter. Proficio Capital Partners LLC now owns 1,730 shares of the industrial products company's stock valued at $439,000 after purchasing an additional 536 shares during the period. Madison Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at $4,393,000. LBP AM SA acquired a new position in shares of Illinois Tool Works during the 4th quarter valued at $4,125,000. Finally, Catalyst Funds Management Pty Ltd grew its holdings in shares of Illinois Tool Works by 25.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 1,500 shares of the industrial products company's stock worth $380,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITW. Barclays lifted their target price on Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 target price on the stock. in a report on Wednesday, May 7th. Truist Financial reduced their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus increased their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their price objective on Illinois Tool Works from $230.00 to $235.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of "Hold" and an average price target of $253.83.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 872 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director directly owned 122,884 shares in the company, valued at $29,634,705.44. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.74 during trading hours on Tuesday, hitting $258.36. The company had a trading volume of 183,830 shares, compared to its average volume of 993,656. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The firm has a market capitalization of $75.70 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 5.50 and a beta of 1.09. The firm's fifty day moving average is $247.83 and its 200 day moving average is $249.43. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.04. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The company's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a yield of 2.32%. Illinois Tool Works's payout ratio is 52.77%.

Illinois Tool Works Company 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.