Sanibel Captiva Trust Company Inc. Has $11.41 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Sanibel Captiva Trust Company Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,990 shares of the industrial products company's stock after selling 3,306 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Illinois Tool Works were worth $11,406,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITW. SG Americas Securities LLC grew its holdings in shares of Illinois Tool Works by 29.1% in the 1st quarter. SG Americas Securities LLC now owns 9,411 shares of the industrial products company's stock worth $2,334,000 after acquiring an additional 2,119 shares during the period. Simplicity Wealth LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at approximately $1,101,000. GAMMA Investing LLC raised its position in shares of Illinois Tool Works by 6.7% during the 1st quarter. GAMMA Investing LLC now owns 8,329 shares of the industrial products company's stock valued at $2,066,000 after acquiring an additional 526 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Illinois Tool Works by 1.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,055 shares of the industrial products company's stock worth $1,006,000 after acquiring an additional 54 shares during the last quarter. Finally, Parisi Gray Wealth Management boosted its position in Illinois Tool Works by 3.3% during the 1st quarter. Parisi Gray Wealth Management now owns 6,985 shares of the industrial products company's stock valued at $1,732,000 after purchasing an additional 224 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

ITW traded down $2.49 during trading on Wednesday, hitting $246.51. The stock had a trading volume of 727,681 shares, compared to its average volume of 1,011,550. 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 cap of $72.23 billion, a PE ratio of 21.03, a P/E/G ratio of 4.56 and a beta of 1.10. The company has a 50 day simple moving average of $239.72 and a 200-day simple moving average of $252.80. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works's payout ratio is presently 52.77%.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works 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 now owns 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on ITW shares. Evercore ISI cut their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Bank of America downgraded shares of Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target on the stock. in a research report on Wednesday, May 7th. Barclays decreased their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has an average rating of "Hold" and a consensus price target of $253.42.

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.