Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by NBT Bank N A NY

NBT Bank N A NY trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,848 shares of the industrial products company’s stock after selling 168 shares during the quarter. NBT Bank N A NY’s holdings in Illinois Tool Works were worth $722,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Baron Wealth Management LLC increased its holdings in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares during the period. Sigma Planning Corp increased its holdings in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after acquiring an additional 41 shares during the period. Harbour Investments Inc. increased its holdings in shares of Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after acquiring an additional 41 shares during the period. TrinityPoint Wealth LLC increased its stake in Illinois Tool Works by 1.0% in the 3rd quarter. TrinityPoint Wealth LLC now owns 4,208 shares of the industrial products company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Finally, Cypress Capital Group increased its stake in Illinois Tool Works by 1.2% in the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company’s stock valued at $962,000 after buying an additional 43 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ITW shares. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI dropped their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $267.47 on Tuesday. The firm has a market capitalization of $78.50 billion, a P/E ratio of 22.82, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company’s fifty day moving average is $257.80 and its two-hundred day moving average is $260.30. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works 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.