NBT Bank N A NY Has $662,000 Holdings in Illinois Tool Works Inc. $ITW

NBT Bank N A NY lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,678 shares of the industrial products company’s stock after selling 160 shares during the quarter. NBT Bank N A NY’s holdings in Illinois Tool Works were worth $662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sax Wealth Advisors LLC bought a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $298,000. Canopy Partners LLC boosted its holdings in shares of Illinois Tool Works by 2.5% during the 2nd quarter. Canopy Partners LLC now owns 2,917 shares of the industrial products company’s stock worth $721,000 after buying an additional 70 shares in the last quarter. Shell Asset Management Co. boosted its holdings in shares of Illinois Tool Works by 76.9% during the 2nd quarter. Shell Asset Management Co. now owns 6,747 shares of the industrial products company’s stock worth $1,668,000 after buying an additional 2,932 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Illinois Tool Works by 0.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 155,685 shares of the industrial products company’s stock worth $38,692,000 after buying an additional 1,400 shares in the last quarter. Finally, Seamount Financial Group Inc. boosted its holdings in shares of Illinois Tool Works by 3.4% during the 2nd quarter. Seamount Financial Group Inc. now owns 3,488 shares of the industrial products company’s stock worth $862,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, CAO Randall J. Scheuneman sold 6,802 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at $2,734,035.12. This trade represents a 39.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ITW. UBS Group increased their price target on Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Barclays boosted their price target on shares of Illinois Tool Works from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Finally, Evercore ISI set a $265.00 price target on shares of Illinois Tool Works and gave the company an “underperform” rating in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $262.83.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $252.91 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.15 and a debt-to-equity ratio of 2.40. The stock’s fifty day simple moving average is $261.33 and its two-hundred day simple moving average is $251.09. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The stock has a market cap of $73.72 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $2.54 EPS. The business’s revenue was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.61 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.50. Illinois Tool Works’s payout ratio is 56.44%.

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.