Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by American National Bank & Trust

American National Bank & Trust lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 9,925 shares of the industrial products company’s stock after selling 324 shares during the period. American National Bank & Trust’s holdings in Illinois Tool Works were worth $2,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Research Global Investors grew its stake in shares of Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after acquiring an additional 51,654 shares in the last quarter. Fisher Asset Management LLC raised its position in Illinois Tool Works by 4.2% in the 4th quarter. Fisher Asset Management LLC now owns 2,949,029 shares of the industrial products company’s stock valued at $772,469,000 after purchasing an additional 119,921 shares in the last quarter. Legal & General Group Plc raised its stake in Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after buying an additional 62,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Illinois Tool Works by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after acquiring an additional 133,853 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Illinois Tool Works by 11.0% in the 4th quarter. Schroder Investment Management Group now owns 1,001,113 shares of the industrial products company’s stock valued at $262,232,000 after acquiring an additional 99,175 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $262.02 on Thursday. The business has a 50 day moving average price of $248.46 and a 200 day moving average price of $248.10. The company has a market capitalization of $78.19 billion, a P/E ratio of 25.84, a PEG ratio of 4.09 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $2.41 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio is 59.17%.

Analyst Ratings Changes

Several research firms recently weighed in on ITW. Jefferies Financial Group decreased their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Truist Financial reduced their price objective on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI cut their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $250.22.

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.