Heritage Trust Co Invests $5.46 Million in Illinois Tool Works Inc. (NYSE:ITW)

Heritage Trust Co purchased a new position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,532 shares of the industrial products company's stock, valued at approximately $5,460,000.

Other institutional investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at $31,000. Finally, Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $32,000. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

ITW traded down $1.61 on Wednesday, reaching $229.89. The company had a trading volume of 606,008 shares, compared to its average volume of 1,000,409. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The company has a market cap of $67.44 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 4.56 and a beta of 1.12. The business has a 50 day simple moving average of $251.41 and a 200 day simple moving average of $258.53.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.61%. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ITW shares. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a report on Wednesday, February 19th. Barclays dropped their price target on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $260.09.

Insider Transactions at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.