Bath Savings Trust Co decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,681 shares of the industrial products company’s stock after selling 313 shares during the period. Bath Savings Trust Co’s holdings in Illinois Tool Works were worth $1,671,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ITW. Creative Capital Management Investments LLC lifted its position in Illinois Tool Works by 145.2% during the 1st quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 61 shares during the last quarter. Sturgeon Ventures LLP bought a new stake in Illinois Tool Works in the first quarter valued at about $26,000. Quarry LP increased its stake in Illinois Tool Works by 52.7% in the first quarter. Quarry LP now owns 142 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 49 shares during the period. AXS Investments LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at about $40,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its stake in Illinois Tool Works by 43.5% in the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 165 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 79.56% of the company’s stock.
Illinois Tool Works Trading Up 0.3 %
NYSE ITW traded up $0.74 during trading hours on Monday, hitting $239.05. The company’s stock had a trading volume of 324,180 shares, compared to its average volume of 1,070,131. The stock has a fifty day moving average of $245.99 and a 200 day moving average of $238.81. Illinois Tool Works Inc. has a twelve month low of $180.27 and a twelve month high of $264.19. The firm has a market capitalization of $72.29 billion, a P/E ratio of 23.61, a PEG ratio of 4.27 and a beta of 1.15. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 2.25.
Illinois Tool Works Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be issued a $1.40 dividend. The ex-dividend date is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.31. This represents a $5.60 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.83%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ITW shares. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Morgan Stanley upped their price objective on shares of Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a research note on Thursday, August 3rd. Barclays decreased their price objective on shares of Illinois Tool Works from $213.00 to $198.00 in a research note on Thursday, September 7th. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $235.00 to $240.00 in a research note on Monday, July 10th. Finally, Credit Suisse Group upped their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $237.18.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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