Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Essex Savings Bank

Essex Savings Bank reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 4,044 shares of the industrial products company’s stock after selling 54 shares during the period. Essex Savings Bank’s holdings in Illinois Tool Works were worth $1,025,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ITW. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC grew its stake in 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 acquiring an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the third quarter worth $35,000. Finally, Financial Management Professionals Inc. grew its position in shares of Illinois Tool Works by 28.0% in the third quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analyst Ratings Changes

ITW has been the topic of a number of research analyst reports. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Stock Up 0.4 %

Shares of NYSE:ITW opened at $253.99 on Thursday. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company’s fifty day moving average is $265.34 and its two-hundred day moving average is $255.30. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a market capitalization of $75.00 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.55 EPS. Equities analysts anticipate 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 was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.