Bar Harbor Wealth Management Has $1.29 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bar Harbor Wealth Management lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,068 shares of the industrial products company’s stock after selling 249 shares during the period. Bar Harbor Wealth Management’s holdings in Illinois Tool Works were worth $1,285,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after acquiring an additional 322,192 shares in the last quarter. National Bank of Canada FI raised its position in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares during the period. AXA S.A. increased its position in shares of Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after acquiring an additional 241,618 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Up 1.8 %

ITW traded up $4.51 on Monday, reaching $249.41. 669,617 shares of the company traded hands, compared to its average volume of 832,121. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market cap of $73.65 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The firm has a fifty day simple moving average of $265.91 and a two-hundred day simple moving average of $255.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

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

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $1.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.41%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial increased their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Profile

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.