Northwest Bank & Trust Co Buys Shares of 1,987 Illinois Tool Works Inc. (NYSE:ITW)

Northwest Bank & Trust Co bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,987 shares of the industrial products company’s stock, valued at approximately $520,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Creekmur Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at $86,000. Syon Capital LLC raised its stake in shares of Illinois Tool Works by 26.6% in the 4th quarter. Syon Capital LLC now owns 4,345 shares of the industrial products company’s stock worth $1,138,000 after buying an additional 913 shares in the last quarter. Integrated Advisors Network LLC raised its stake in shares of Illinois Tool Works by 5.2% in the 4th quarter. Integrated Advisors Network LLC now owns 5,167 shares of the industrial products company’s stock worth $1,353,000 after buying an additional 256 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Illinois Tool Works by 2.0% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 62,044 shares of the industrial products company’s stock worth $16,251,000 after buying an additional 1,198 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in shares of Illinois Tool Works by 9.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 675 shares of the industrial products company’s stock worth $177,000 after buying an additional 56 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Down 2.3 %

NYSE:ITW traded down $5.43 during trading hours on Friday, hitting $235.17. 1,019,517 shares of the company’s stock traded hands, compared to its average volume of 970,525. The firm has a market cap of $70.17 billion, a P/E ratio of 23.19, a P/E/G ratio of 3.58 and a beta of 1.11. Illinois Tool Works Inc. has a twelve month low of $217.50 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The stock’s fifty day moving average price is $246.54 and its two-hundred day moving average price is $254.32.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. Illinois Tool Works’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, research analysts expect that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works’s payout ratio is 55.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday. Barclays reduced their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. Finally, Stifel Nicolaus upped their target price on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $256.44.

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.