Bath Savings Trust Co Decreases Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Bath Savings Trust Co lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881 shares of the industrial products company’s stock after selling 330 shares during the quarter. Bath Savings Trust Co’s holdings in Illinois Tool Works were worth $731,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. TD Asset Management Inc raised its position in shares of Illinois Tool Works by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 104,847 shares of the industrial products company’s stock valued at $24,845,000 after purchasing an additional 2,985 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Illinois Tool Works by 4.2% during the second quarter. Private Advisor Group LLC now owns 43,249 shares of the industrial products company’s stock worth $10,248,000 after purchasing an additional 1,760 shares during the period. Candriam S.C.A. lifted its position in shares of Illinois Tool Works by 4.4% in the 2nd quarter. Candriam S.C.A. now owns 39,563 shares of the industrial products company’s stock worth $9,374,000 after buying an additional 1,678 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $44,000. Finally, Acadian Asset Management LLC lifted its holdings in Illinois Tool Works by 2,440.0% in the second quarter. Acadian Asset Management LLC now owns 81,991 shares of the industrial products company’s stock worth $19,419,000 after acquiring an additional 78,763 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on ITW. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup upped their target price on Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Finally, Barclays upgraded shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $270.00 in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $268.50.

Illinois Tool Works Stock Up 0.1 %

Shares of NYSE ITW traded up $0.15 during trading hours on Tuesday, hitting $250.51. The stock had a trading volume of 251,506 shares, compared to its average volume of 661,092. The company has a market capitalization of $73.98 billion, a P/E ratio of 21.67, a P/E/G ratio of 4.22 and a beta of 1.11. The firm’s 50-day moving average price is $267.01 and its two-hundred day moving average price is $254.89. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.