Illinois Tool Works Inc. $ITW Shares Newly Bought by NBT Bank N.A.

NBT Bank N.A. bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,356 shares of the industrial products company’s stock, valued at approximately $606,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at approximately $5,017,000. Sanctuary Advisors LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at approximately $14,028,000. Cibc World Market Inc. acquired a new stake in shares of Illinois Tool Works during the second quarter worth approximately $3,887,000. Sapient Capital LLC grew its position in shares of Illinois Tool Works by 227.7% during the second quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company’s stock worth $3,703,000 after buying an additional 9,457 shares in the last quarter. Finally, Fidelity National Financial Inc. bought a new stake in shares of Illinois Tool Works in the second quarter worth $20,583,000. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ITW shares. JPMorgan Chase & Co. cut shares of Illinois Tool Works from an “overweight” rating to a “neutral” rating and cut their price target for the company from $350.00 to $270.00 in a report on Friday, October 9th. Truist Financial decreased their price objective on shares of Illinois Tool Works from $308.00 to $297.00 and set a “hold” rating for the company in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a report on Wednesday, September 30th. UBS Group set a $277.00 target price on shares of Illinois Tool Works in a research report on Friday, October 9th. Finally, Robert W. Baird upped their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $273.42.

Insiders Place Their Bets

In other news, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total value of $11,894,425.79. Following the transaction, the director directly owned 266,288 shares in the company, valued at approximately $76,448,621.92. This trade represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matteo Pigozzo sold 277 shares of Illinois Tool Works stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the completion of the transaction, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.83% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW opened at $275.80 on Friday. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 2.26. The firm has a market cap of $78.55 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 3.02 and a beta of 0.96. The stock has a 50 day moving average of $271.82 and a 200-day moving average of $268.97.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 11.42 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.61. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works’s dividend payout ratio is currently 62.38%.

About Illinois Tool Works

Illinois Tool Works Inc (NYSE: ITW) is a diversified industrial manufacturer that develops and produces specialized equipment, components, consumables and systems for customers in a range of industries. Founded in 1912 and headquartered in Glenview, Illinois, the company serves markets worldwide through a portfolio of highly engineered businesses.

ITW’s operations include food equipment, automotive components, welding products, test and measurement equipment, electronics materials, polymers and fluids, construction products, and specialty products.