Bank of Hawaii Sells 150 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank of Hawaii decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,266 shares of the industrial products company’s stock after selling 150 shares during the quarter. Bank of Hawaii’s holdings in Illinois Tool Works were worth $2,690,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new position in Illinois Tool Works during the third quarter valued at $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays raised their target price on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Truist Financial upped their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Trading Up 1.5 %

Shares of ITW opened at $273.95 on Monday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The company’s fifty day simple moving average is $262.20 and its 200-day simple moving average is $249.84. The company has a market cap of $80.90 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.25 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $2.55 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is currently 51.90%.

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.