Bath Savings Trust Co Sells 434 Shares of Illinois Tool Works Inc. (ITW)

Bath Savings Trust Co lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,510 shares of the industrial products company’s stock after selling 434 shares during the quarter. Bath Savings Trust Co’s holdings in Illinois Tool Works were worth $1,652,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kaizen Advisory LLC increased its holdings in shares of Illinois Tool Works by 9.5% in the 4th quarter. Kaizen Advisory LLC now owns 819 shares of the industrial products company’s stock valued at $104,000 after acquiring an additional 71 shares during the period. National Asset Management Inc. increased its stake in Illinois Tool Works by 3.5% in the 4th quarter. National Asset Management Inc. now owns 2,284 shares of the industrial products company’s stock valued at $290,000 after buying an additional 77 shares during the period. Indiana Trust & Investment Management CO increased its stake in Illinois Tool Works by 3.4% in the 4th quarter. Indiana Trust & Investment Management CO now owns 2,421 shares of the industrial products company’s stock valued at $307,000 after buying an additional 80 shares during the period. Valley National Advisers Inc. increased its stake in Illinois Tool Works by 9.3% in the 4th quarter. Valley National Advisers Inc. now owns 956 shares of the industrial products company’s stock valued at $121,000 after buying an additional 81 shares during the period. Finally, Frontier Investment Mgmt Co. increased its stake in Illinois Tool Works by 1.2% in the 4th quarter. Frontier Investment Mgmt Co. now owns 7,898 shares of the industrial products company’s stock valued at $1,001,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 78.66% of the company’s stock.

In related news, insider Sundaram Nagarajan sold 18,651 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $137.75, for a total value of $2,569,175.25. Following the sale, the insider now directly owns 44,954 shares in the company, valued at approximately $6,192,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Juan Valls sold 52,265 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $142.41, for a total transaction of $7,443,058.65. Following the completion of the sale, the executive vice president now owns 78,620 shares in the company, valued at $11,196,274.20. The disclosure for this sale can be found here. Insiders sold a total of 128,970 shares of company stock worth $18,348,472 over the last quarter. Insiders own 0.87% of the company’s stock.

NYSE:ITW opened at $156.81 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a fifty-two week low of $117.75 and a fifty-two week high of $158.69. The firm has a market cap of $51.27 billion, a PE ratio of 20.63, a P/E/G ratio of 2.59 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the company posted $1.70 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 7.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 29th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.55%. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

ITW has been the topic of several recent research reports. Citigroup cut shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price objective on the stock. in a research note on Monday, January 14th. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $128.00 to $124.00 in a research note on Tuesday, February 5th. JPMorgan Chase & Co. cut shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Thursday, January 10th. Credit Suisse Group reissued a “hold” rating on shares of Illinois Tool Works in a research note on Friday, February 1st. Finally, BMO Capital Markets dropped their price objective on shares of Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating on the stock in a research note on Monday, February 25th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $136.60.

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Illinois Tool Works Company 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.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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