Community Bank N.A. Lowers Stake in Illinois Tool Works Inc. (NYSE:ITW)

Community Bank N.A. trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,907 shares of the industrial products company’s stock after selling 60 shares during the quarter. Community Bank N.A.’s holdings in Illinois Tool Works were worth $5,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Cetera Investment Advisers increased its position in shares of Illinois Tool Works by 284.1% in the first quarter. Cetera Investment Advisers now owns 56,343 shares of the industrial products company’s stock worth $15,118,000 after acquiring an additional 41,676 shares in the last quarter. Cetera Advisors LLC raised its position in Illinois Tool Works by 57.3% in the first quarter. Cetera Advisors LLC now owns 14,475 shares of the industrial products company’s stock valued at $3,884,000 after purchasing an additional 5,274 shares during the period. Sage Capital Advisors llc boosted its position in shares of Illinois Tool Works by 0.7% in the second quarter. Sage Capital Advisors llc now owns 20,926 shares of the industrial products company’s stock worth $4,959,000 after buying an additional 137 shares during the period. Olistico Wealth LLC acquired a new position in Illinois Tool Works during the 2nd quarter worth approximately $47,000. Finally, Kingswood Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 39.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,372 shares of the industrial products company’s stock worth $799,000 after acquiring an additional 946 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.5 %

Illinois Tool Works stock opened at $277.52 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a 50-day simple moving average of $264.35 and a 200-day simple moving average of $250.78. The firm has a market capitalization of $81.95 billion, a P/E ratio of 24.01, a P/E/G ratio of 4.30 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the business earned $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of analyst reports. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Barclays boosted their price target on Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $257.30.

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.