Peoples Bank KS Takes $81,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Peoples Bank KS purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 310 shares of the industrial products company’s stock, valued at approximately $81,000.

Other institutional investors have also modified their holdings of the company. Security National Bank purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $28,000. Fairscale Capital LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $34,000. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Finally, Rise Advisors LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $35,000. 79.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ITW. Barclays dropped their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Truist Financial dropped their price target on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group lowered their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $250.22.

Illinois Tool Works Trading Down 0.6 %

NYSE:ITW traded down $1.61 on Friday, reaching $258.38. 624,279 shares of the company’s stock were exchanged, compared to its average volume of 1,093,373. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The firm has a market capitalization of $77.10 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The business has a fifty day moving average of $248.78 and a 200-day moving average of $248.18.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $2.41 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.32%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. Illinois Tool Works’s dividend payout ratio is 59.17%.

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.