Pioneer Trust Bank N A OR Acquires 2,404 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Pioneer Trust Bank N A OR raised its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,083 shares of the industrial products company's stock after purchasing an additional 2,404 shares during the quarter. Illinois Tool Works accounts for 2.0% of Pioneer Trust Bank N A OR's portfolio, making the stock its 18th biggest position. Pioneer Trust Bank N A OR's holdings in Illinois Tool Works were worth $7,881,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in ITW. Norges Bank bought a new position in Illinois Tool Works in the 4th quarter worth $806,291,000. Raymond James Financial Inc. bought a new position in Illinois Tool Works in the fourth quarter worth about $203,949,000. Proficio Capital Partners LLC lifted its holdings in Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock worth $111,209,000 after buying an additional 437,397 shares during the period. Franklin Resources Inc. grew its holdings in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock worth $106,352,000 after acquiring an additional 308,935 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 55,113 shares of the company's stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Corporate insiders own 0.88% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ITW. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday, February 19th. UBS Group dropped their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday. StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued 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 company currently has a consensus rating of "Hold" and a consensus target price of $264.09.

Illinois Tool Works Stock Performance

Shares of ITW traded down $11.68 during mid-day trading on Thursday, hitting $223.19. 781,633 shares of the company traded hands, compared to its average volume of 1,001,057. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The stock has a 50-day moving average price of $253.32 and a two-hundred day moving average price of $259.35. The stock has a market cap of $65.48 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results 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 return on equity of 95.39% and a net margin of 21.94%. Equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.69%. Illinois Tool Works's payout ratio is presently 51.19%.

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.