Bank of Hawaii Lowers Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bank of Hawaii reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,266 shares of the industrial products company’s stock after selling 150 shares during the period. Bank of Hawaii’s holdings in Illinois Tool Works were worth $2,690,000 at the end of the most recent quarter.

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

Illinois Tool Works Stock Performance

NYSE ITW opened at $273.95 on Monday. The stock has a market capitalization of $80.90 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.25 and a beta of 1.10. The stock has a 50-day moving average of $262.20 and a 200 day moving average of $249.84. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58.

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, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the company posted $2.55 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITW shares. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $257.30.

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.