Bank of New Hampshire Sells 254 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank of New Hampshire lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,875 shares of the industrial products company’s stock after selling 254 shares during the quarter. Bank of New Hampshire’s holdings in Illinois Tool Works were worth $1,236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC bought a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. True Wealth Design LLC lifted its stake in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $32,000. Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW traded up $0.92 during trading on Tuesday, reaching $251.28. 78,166 shares of the company traded hands, compared to its average volume of 615,808. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a fifty day simple moving average of $267.01 and a 200 day simple moving average of $254.89. The company has a market cap of $74.20 billion, a P/E ratio of 21.74, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the firm posted $2.55 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ITW. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Citigroup increased their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $268.50.

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.