New Hampshire Trust Reduces Stake in Illinois Tool Works Inc. (NYSE:ITW)

New Hampshire Trust trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,833 shares of the industrial products company’s stock after selling 269 shares during the quarter. New Hampshire Trust’s holdings in Illinois Tool Works were worth $1,225,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. AE Wealth Management LLC grew its stake in Illinois Tool Works by 32.8% in the 2nd quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock valued at $827,000 after acquiring an additional 862 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Illinois Tool Works by 9.5% in the second quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock valued at $8,371,000 after purchasing an additional 3,071 shares during the last quarter. Sei Investments Co. increased its stake in shares of Illinois Tool Works by 21.3% during the 2nd quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock worth $16,843,000 after purchasing an additional 12,496 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Illinois Tool Works by 71.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock worth $8,267,000 after purchasing an additional 14,564 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in Illinois Tool Works by 13.5% in the 2nd quarter. Summit Trail Advisors LLC now owns 3,112 shares of the industrial products company’s stock valued at $742,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the subject of several recent research reports. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Truist Financial upped their target price 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. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price objective 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, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $256.50 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 3.57 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a 50 day moving average price of $264.26 and a 200 day moving average price of $255.73.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 EPS. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

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.