Harbour Trust & Investment Management Co Has $2.21 Million Holdings in Illinois Tool Works Inc. $ITW

Harbour Trust & Investment Management Co cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,920 shares of the industrial products company’s stock after selling 174 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Illinois Tool Works were worth $2,205,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Bank & Trust Co boosted its stake in Illinois Tool Works by 0.4% in the second quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company’s stock valued at $2,526,000 after buying an additional 39 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of Illinois Tool Works by 0.5% during the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 42 shares in the last quarter. Clearstead Trust LLC boosted its stake in shares of Illinois Tool Works by 0.9% during the first quarter. Clearstead Trust LLC now owns 4,758 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 43 shares in the last quarter. Northern Financial Advisors Inc boosted its stake in shares of Illinois Tool Works by 1.9% during the first quarter. Northern Financial Advisors Inc now owns 2,348 shares of the industrial products company’s stock valued at $582,000 after purchasing an additional 44 shares in the last quarter. Finally, Woodmont Investment Counsel LLC boosted its stake in shares of Illinois Tool Works by 2.5% during the second quarter. Woodmont Investment Counsel LLC now owns 1,805 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 44 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on ITW shares. Wells Fargo & Company lifted their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. UBS Group lifted their price target on Illinois Tool Works from $243.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Barclays raised their price objective on Illinois Tool Works from $240.00 to $243.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of Illinois Tool Works in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus raised their price objective on Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $262.83.

Insiders Place Their Bets

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works 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 directly owned 10,314 shares in the company, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.1%

Shares of ITW stock opened at $244.59 on Tuesday. The company has a market cap of $71.30 billion, a P/E ratio of 21.44, a PEG ratio of 5.41 and a beta of 1.10. The stock has a 50 day simple moving average of $260.86 and a two-hundred day simple moving average of $250.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.15 and a current ratio of 1.59. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The business 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 firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date was Tuesday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 56.44%.

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.