Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by American National Bank

American National Bank lessened its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,231 shares of the industrial products company’s stock after selling 67 shares during the period. American National Bank’s holdings in Illinois Tool Works were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Creative Capital Management Investments LLC raised its stake in shares of Illinois Tool Works by 145.2% during the 1st quarter. Creative Capital Management Investments LLC now owns 103 shares of the industrial products company’s stock valued at $25,000 after buying an additional 61 shares during the last quarter. Sturgeon Ventures LLP purchased a new position in Illinois Tool Works during the first quarter valued at approximately $26,000. Quarry LP boosted its position in Illinois Tool Works by 52.7% in the 1st quarter. Quarry LP now owns 142 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. AXS Investments LLC acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $40,000. Finally, Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Illinois Tool Works by 43.5% during the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 165 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 50 shares in the last quarter. 79.56% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $237.71 on Tuesday. The company has a market cap of $71.88 billion, a P/E ratio of 23.51, a P/E/G ratio of 4.25 and a beta of 1.15. Illinois Tool Works Inc. has a twelve month low of $180.27 and a twelve month high of $264.19. The company’s 50-day moving average price is $245.99 and its 200-day moving average price is $238.81. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 2.25.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.02. Illinois Tool Works had a return on equity of 94.14% and a net margin of 19.30%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm posted $2.37 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that Illinois Tool Works Inc. will post 9.74 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.31. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.83%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ITW. Citigroup raised their price target on shares of Illinois Tool Works from $256.00 to $258.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Morgan Stanley lifted their price target on Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a research note on Thursday, August 3rd. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Credit Suisse Group boosted their price objective on Illinois Tool Works from $281.00 to $292.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Barclays decreased their target price on Illinois Tool Works from $213.00 to $198.00 in a research report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $237.18.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.