Camden National Bank Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Camden National Bank lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,993 shares of the industrial products company’s stock after purchasing an additional 152 shares during the period. Camden National Bank’s holdings in Illinois Tool Works were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ITW. Montag A & Associates Inc. raised its stake in shares of Illinois Tool Works by 1.1% during the 2nd quarter. Montag A & Associates Inc. now owns 8,183 shares of the industrial products company’s stock worth $2,057,000 after buying an additional 90 shares during the period. Lokken Investment Group LLC raised its position in Illinois Tool Works by 5.0% during the second quarter. Lokken Investment Group LLC now owns 944 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 45 shares during the period. 1ST Source Bank lifted its holdings in Illinois Tool Works by 2.7% during the second quarter. 1ST Source Bank now owns 3,210 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 85 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Illinois Tool Works by 2.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,232 shares of the industrial products company’s stock valued at $12,066,000 after purchasing an additional 1,170 shares during the period. Finally, Coastal Investment Advisors Inc. increased its stake in shares of Illinois Tool Works by 6.5% during the second quarter. Coastal Investment Advisors Inc. now owns 1,050 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE ITW traded down $0.80 during midday trading on Monday, hitting $231.69. The company’s stock had a trading volume of 120,437 shares, compared to its average volume of 1,083,831. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $69.71 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 4.46 and a beta of 1.14. The business’s fifty day simple moving average is $232.41 and its two-hundred day simple moving average is $237.86. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $264.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a net margin of 19.55% and a return on equity of 95.68%. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the company posted $2.35 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Illinois Tool Works Inc. will post 9.68 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is currently 54.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ITW shares. Wells Fargo & Company lowered their price objective on Illinois Tool Works from $250.00 to $235.00 in a report on Monday, October 9th. StockNews.com assumed coverage on Illinois Tool Works in a research report on Thursday, October 5th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Citigroup upped their target price on Illinois Tool Works from $256.00 to $258.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley upped their price objective on Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $238.25.

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.