Illinois Tool Works Inc. $ITW Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp decreased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,683 shares of the industrial products company’s stock after selling 2,754 shares during the period. Boston Trust Walden Corp’s holdings in Illinois Tool Works were worth $47,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITW. BlackRock Inc. bought a new stake in Illinois Tool Works in the 2nd quarter worth approximately $6,296,349,000. State Street Corp raised its stake in Illinois Tool Works by 1.0% during 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 buying an additional 128,089 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Illinois Tool Works by 2.5% during 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 buying an additional 72,951 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Illinois Tool Works during the 2nd quarter valued at $603,166,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Illinois Tool Works by 3.0% in the 1st 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 last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

ITW has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $293.00 price objective (down from $297.00) on shares of Illinois Tool Works in a report on Wednesday, October 28th. Weiss Ratings raised Illinois Tool Works from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. The Goldman Sachs Group reissued a “sell” rating and issued a $270.00 target price on shares of Illinois Tool Works in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft cut their price target on Illinois Tool Works from $287.00 to $281.00 and set a “hold” rating for the company in a research note on Wednesday, September 30th. Finally, Robert W. Baird upped their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $276.33.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $293.73 on Thursday. The stock has a 50-day simple moving average of $271.86 and a two-hundred day simple moving average of $271.16. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.94 and a current ratio of 1.29. The firm has a market capitalization of $83.48 billion, a PE ratio of 26.18, a P/E/G ratio of 3.15 and a beta of 0.92.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.03. Illinois Tool Works had a return on equity of 103.35% and a net margin of 19.39%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post 11.49 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $1.72 per share. The ex-dividend date is Thursday, December 31st. This represents a $6.88 dividend on an annualized basis and a dividend yield of 2.3%. Illinois Tool Works’s payout ratio is 61.32%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Santi sold 41,431 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 266,288 shares of the company’s stock, valued at approximately $76,448,621.92. This represents a 13.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matteo Pigozzo sold 277 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer owned 3,394 shares in the company, valued at approximately $981,612.68. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.83% of the company’s stock.

Illinois Tool Works Company 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.