Bank of New Hampshire Sells 255 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank of New Hampshire lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,620 shares of the industrial products company’s stock after selling 255 shares during the period. Bank of New Hampshire’s holdings in Illinois Tool Works were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of ITW. Brighton Jones LLC increased its holdings in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after buying an additional 277 shares during the period. Stratos Wealth Advisors LLC increased its position in shares of Illinois Tool Works by 3.8% during the 4th quarter. Stratos Wealth Advisors LLC now owns 1,881 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 69 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its position in shares of Illinois Tool Works by 10.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 2,629 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 242 shares in the last quarter. Financial Advocates Investment Management increased its position in shares of Illinois Tool Works by 3.3% during the 4th quarter. Financial Advocates Investment Management now owns 4,186 shares of the industrial products company’s stock worth $1,061,000 after purchasing an additional 135 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $2,710,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating for the company in a research report on Monday, May 19th. Barclays dropped their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. UBS Group dropped their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Citigroup dropped their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $253.42.

Illinois Tool Works Stock Up 0.6%

Shares of NYSE:ITW opened at $247.69 on Friday. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company’s 50-day moving average price is $239.64 and its two-hundred day moving average price is $253.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $72.57 billion, a P/E ratio of 21.13, a P/E/G ratio of 4.56 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The shares were bought at an average price of $241.16 per share, with a total value of $210,291.52. Following the purchase, the director now owns 122,884 shares of the company’s stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.88% of the company’s stock.

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.