Bank of New Hampshire Decreases Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bank of New Hampshire lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,129 shares of the industrial products company’s stock after selling 1,954 shares during the period. Bank of New Hampshire’s holdings in Illinois Tool Works were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ITW. Security National Bank purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $28,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the second quarter valued at about $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the second quarter valued at about $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $34,000. Finally, General Partner Inc. purchased a new stake in shares of Illinois Tool Works in the first quarter valued at about $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of several recent research reports. Truist Financial reduced 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 report on Wednesday, July 31st. Evercore ISI cut their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Barclays cut their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $251.78.

Illinois Tool Works Trading Down 0.9 %

ITW stock traded down $2.33 on Monday, hitting $256.08. 520,970 shares of the company were exchanged, compared to its average volume of 1,090,407. 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 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The business’s fifty day moving average is $249.00 and its two-hundred day moving average is $247.86. The stock has a market capitalization of $76.41 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $2.41 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $1.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

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.