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

UMB Bank n.a. lifted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 93.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pensionfund Sabic lifted its position in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares during the period. Franklin Resources Inc. lifted its position in 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 acquiring an additional 398,676 shares during the period. Clark & Stuart Inc acquired a new stake in Illinois Tool Works during the 4th quarter worth about $1,729,000. Wolverine Asset Management LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth about $1,179,000. Finally, Czech National Bank lifted its position in Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after acquiring an additional 3,227 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITW. Jefferies Financial Group lifted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $256.50 on Monday. 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 Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The business has a 50-day moving average price of $264.26 and a 200 day moving average price of $255.59. The firm has a market cap of $75.74 billion, a PE ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS 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 company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $2.55 EPS. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.50 per share. 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 (DPR) 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.