Bank of New Hampshire Lowers Position in Illinois Tool Works Inc. (NYSE:ITW)

Bank of New Hampshire reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,873 shares of the industrial products company’s stock after selling 394 shares during the period. Bank of New Hampshire’s holdings in Illinois Tool Works were worth $2,062,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Cornerstone Wealth Management LLC lifted its position in shares of Illinois Tool Works by 2.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock worth $395,000 after purchasing an additional 41 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in shares of Illinois Tool Works by 4.5% during the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 46 shares during the last quarter. PFG Advisors raised its position in Illinois Tool Works by 0.7% in the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 46 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of Illinois Tool Works by 1.3% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 46 shares in the last quarter. Finally, Mcdonald Partners LLC grew its position in shares of Illinois Tool Works by 1.0% in the third quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock valued at $1,104,000 after purchasing an additional 47 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.4 %

Shares of ITW stock traded up $0.94 during mid-day trading on Friday, hitting $249.10. 307,173 shares of the stock traded hands, compared to its average volume of 1,233,525. Illinois Tool Works Inc. has a 52-week low of $217.06 and a 52-week high of $271.15. The stock’s fifty day moving average is $260.16 and its two-hundred day moving average is $251.28. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The stock has a market cap of $74.42 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.70 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s payout ratio is 57.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ITW. Wells Fargo & Company downgraded Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup raised their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Barclays lifted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $257.00.

Insider Activity

In related news, EVP Sharon Szafranski sold 801 shares of Illinois Tool Works stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock valued at $48,712,316 over the last quarter. Company insiders own 0.88% of the company’s stock.

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.