NBT Bank N.A. Buys 2,356 Shares of Illinois Tool Works Inc. $ITW

NBT Bank N.A. bought a new stake in Illinois Tool Works Inc. (NYSE:ITW) during the third quarter, Holdings Channel.com reports. The firm bought 2,356 shares of the industrial products company’s stock, valued at approximately $606,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ITW. BlackRock Inc. bought a new position in shares of Illinois Tool Works during the second quarter worth about $6,296,349,000. State Street Corp lifted its position in Illinois Tool Works by 1.0% in the 2nd quarter. State Street Corp now owns 12,788,570 shares of the industrial products company’s stock valued at $3,479,219,000 after purchasing an additional 128,089 shares during the last quarter. Bank of America Corp DE lifted its position in Illinois Tool Works by 2.5% in the 1st quarter. Bank of America Corp DE now owns 3,005,659 shares of the industrial products company’s stock valued at $782,343,000 after purchasing an additional 72,951 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Illinois Tool Works during the 2nd quarter valued at about $603,166,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Illinois Tool Works by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,045,009 shares of the industrial products company’s stock worth $532,261,000 after buying an additional 60,009 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, CAO Matteo Pigozzo sold 277 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer directly owned 3,394 shares of the company’s stock, valued at approximately $981,612.68. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Santi sold 41,431 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the completion of the transaction, the director owned 266,288 shares in the company, valued at $76,448,621.92. The trade was a 13.46% 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 Stock Performance

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

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. The firm had revenue of $4.30 billion during 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 11.42 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wolfe Research reaffirmed an “underperform” rating and issued a $286.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 9th. Weiss Ratings lowered Illinois Tool Works from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. UBS Group set a $277.00 price target on Illinois Tool Works in a report on Friday, October 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $273.42.

Illinois Tool Works Profile

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.