Harbour Trust & Investment Management Co Has $2.49 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Harbour Trust & Investment Management Co reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,498 shares of the industrial products company’s stock after selling 403 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Illinois Tool Works were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ITW. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the second quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new stake in shares of Illinois Tool Works during the second quarter worth $30,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter valued at about $35,000. Meeder Asset Management Inc. lifted its stake in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. Finally, Valued Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 2,162.5% during the second quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock worth $43,000 after buying an additional 173 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $255.53 on Friday. Illinois Tool Works Inc. has a 12 month low of $219.01 and a 12 month high of $271.15. The company’s fifty day simple moving average is $253.53 and its 200-day simple moving average is $247.33. The firm has a market cap of $76.25 billion, a PE ratio of 25.20, a P/E/G ratio of 4.10 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $2.41 EPS. Illinois Tool Works’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.35%. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of analyst reports. Barclays cut their price target 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. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial boosted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.44.

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.