NBT Bank N A NY Decreases Stake in Illinois Tool Works Inc. $ITW

NBT Bank N A NY lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,678 shares of the industrial products company’s stock after selling 160 shares during the period. NBT Bank N A NY’s holdings in Illinois Tool Works were worth $662,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Illinois Tool Works by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,528,833 shares of the industrial products company’s stock worth $627,176,000 after acquiring an additional 11,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Illinois Tool Works by 0.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,072,473 shares of the industrial products company’s stock worth $513,994,000 after acquiring an additional 13,354 shares during the last quarter. Invesco Ltd. increased its holdings in Illinois Tool Works by 4.7% in the 1st quarter. Invesco Ltd. now owns 2,034,929 shares of the industrial products company’s stock worth $504,683,000 after acquiring an additional 91,359 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Illinois Tool Works by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,756,141 shares of the industrial products company’s stock worth $435,508,000 after acquiring an additional 45,316 shares during the last quarter. Finally, Amundi increased its holdings in Illinois Tool Works by 1.1% in the 1st quarter. Amundi now owns 1,599,648 shares of the industrial products company’s stock worth $383,828,000 after acquiring an additional 17,119 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ITW. Wells Fargo & Company raised their target price on Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 31st. Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research note on Wednesday. Finally, Evercore ISI set a $265.00 target price on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $262.83.

Insiders Place Their Bets

In related news, CAO Randall J. Scheuneman sold 6,802 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer owned 10,314 shares in the company, valued at $2,734,035.12. The trade was a 39.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Illinois Tool Works Stock Performance

Shares of ITW opened at $252.91 on Thursday. The company has a market cap of $73.72 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock has a 50-day moving average price of $261.33 and a 200-day moving average price of $251.09. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $2.54 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.