Hills Bank & Trust Co Has $6.43 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Hills Bank & Trust Co lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,151 shares of the industrial products company’s stock after selling 428 shares during the period. Hills Bank & Trust Co’s holdings in Illinois Tool Works were worth $6,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth about $26,000. Security National Bank acquired a new stake in Illinois Tool Works in the 4th quarter worth approximately $28,000. Christopher J. Hasenberg Inc bought a new stake in Illinois Tool Works during the first quarter worth approximately $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the first quarter worth approximately $34,000. Finally, General Partner Inc. acquired a new position in Illinois Tool Works during the first quarter valued at approximately $35,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $1.15 during trading hours on Friday, hitting $246.99. The stock had a trading volume of 494,842 shares, compared to its average volume of 1,138,703. The company has a 50-day moving average of $241.45 and a two-hundred day moving average of $249.21. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a market cap of $73.70 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10.

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 analysts’ consensus estimates of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. Illinois Tool Works’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.41 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.43%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s payout ratio is presently 59.17%.

Insider Activity

In related news, Director David Byron Smith, Jr. acquired 775 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the acquisition, the director now owns 121,506 shares in the company, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Barclays decreased their price target on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial lowered their target price on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $250.22.

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.