Bath Savings Trust Co Has $842,000 Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Bath Savings Trust Co lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 22.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,211 shares of the industrial products company’s stock after selling 929 shares during the quarter. Bath Savings Trust Co’s holdings in Illinois Tool Works were worth $842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connectus Wealth LLC boosted its stake in Illinois Tool Works by 83.7% in the 4th quarter. Connectus Wealth LLC now owns 2,410 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 1,098 shares during the period. Elo Mutual Pension Insurance Co increased its stake in shares of Illinois Tool Works by 3.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 26,401 shares of the industrial products company’s stock worth $6,915,000 after purchasing an additional 947 shares during the last quarter. XML Financial LLC raised its holdings in shares of Illinois Tool Works by 8.3% in the 4th quarter. XML Financial LLC now owns 3,247 shares of the industrial products company’s stock valued at $850,000 after purchasing an additional 249 shares during the period. Woodward Diversified Capital LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $217,000. Finally, Unigestion Holding SA grew its holdings in Illinois Tool Works by 1,212.9% during the fourth quarter. Unigestion Holding SA now owns 40,385 shares of the industrial products company’s stock worth $10,578,000 after purchasing an additional 37,309 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $256.08 on Tuesday. Illinois Tool Works Inc. has a 12-month low of $217.50 and a 12-month high of $271.15. The firm has a 50-day moving average price of $249.00 and a two-hundred day moving average price of $247.86. The company has a market capitalization of $76.41 billion, a P/E ratio of 25.25, a P/E/G 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.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 EPS. Analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 59.17%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday. Truist Financial reduced their target price on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Evercore ISI lowered their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $251.78.

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.