Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by UMB Bank n.a.

UMB Bank n.a. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 93.0% during the 4th quarter, HoldingsChannel reports. The firm owned 42,558 shares of the industrial products company’s stock after purchasing an additional 20,502 shares during the quarter. UMB Bank n.a.’s holdings in Illinois Tool Works were worth $10,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. International Assets Investment Management LLC lifted 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 valued at $847,610,000 after acquiring an additional 322,192 shares during the last quarter. National Bank of Canada FI lifted its holdings in Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. AXA S.A. lifted its holdings in Illinois Tool Works by 242.3% in the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after acquiring an additional 241,618 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 167,422 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $256.50 on Monday. The firm has a market capitalization of $75.74 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11. The business’s fifty day moving average price is $264.26 and its 200 day moving average price is $255.59. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating 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 firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.34%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Ratings Changes

ITW has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Company 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.