Bank of New Hampshire Has $1.15 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Bank of New Hampshire reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,620 shares of the industrial products company’s stock after selling 255 shares during the quarter. Bank of New Hampshire’s holdings in Illinois Tool Works were worth $1,146,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $26,000. Glass Jacobson Investment Advisors llc lifted its stake in Illinois Tool Works by 336.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITW. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Barclays reduced 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 note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research note on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price for the company. in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.42.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $247.69 on Friday. The firm has a fifty day simple moving average of $239.64 and a 200-day simple moving average of $253.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market capitalization of $72.57 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 4.56 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. Illinois Tool Works’s revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

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

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. bought 872 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director now owns 122,884 shares of the company’s stock, valued at $29,634,705.44. The trade was a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by insiders.

About Illinois Tool Works

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.