City Holding Co. Has $2.21 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

City Holding Co. grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,924 shares of the industrial products company’s stock after buying an additional 246 shares during the quarter. City Holding Co.’s holdings in Illinois Tool Works were worth $2,213,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. F M Investments LLC grew its position in shares of Illinois Tool Works by 4.9% during the 4th quarter. F M Investments LLC now owns 896 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 42 shares in the last quarter. Trust Co of the South boosted its stake in Illinois Tool Works by 2.9% during the first quarter. Trust Co of the South now owns 1,478 shares of the industrial products company’s stock valued at $367,000 after buying an additional 42 shares during the period. Harbour Investments Inc. increased its stake in Illinois Tool Works by 1.2% in the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 44 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Illinois Tool Works by 0.8% in the 4th quarter. Integrated Advisors Network LLC now owns 5,930 shares of the industrial products company’s stock valued at $1,504,000 after acquiring an additional 45 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock valued at $398,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the purchase, the director now directly owns 122,884 shares in the company, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ITW. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Bank of America lowered 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 report on Wednesday, May 7th. Barclays dropped their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Robert W. Baird increased their target price on Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Finally, Evercore ISI cut their price objective on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $253.42.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $247.69 on Monday. The firm has a market cap of $72.57 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 4.56 and a beta of 1.10. The company’s fifty day simple moving average is $239.64 and its two-hundred day simple moving average is $253.01. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Illinois Tool Works’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 52.77%.

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.