Illinois Tool Works Inc. (NYSE:ITW) is Bank & Trust Co’s 9th Largest Position

Bank & Trust Co lowered its position in Illinois Tool Works Inc. (NYSE:ITW) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 10,392 shares of the industrial products company’s stock after selling 241 shares during the period. Illinois Tool Works makes up approximately 2.2% of Bank & Trust Co’s portfolio, making the stock its 9th biggest holding. Bank & Trust Co’s holdings in Illinois Tool Works were worth $2,635,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Fairscale Capital LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Catalyst Capital Advisors LLC purchased a new position in shares of Illinois Tool Works during the third quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the 3rd quarter worth $35,000. Finally, Meeder Asset Management Inc. increased its stake in Illinois Tool Works by 261.4% in the second 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 period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW traded down $0.07 during trading on Tuesday, reaching $250.29. 192,612 shares of the stock were exchanged, compared to its average volume of 645,759. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a market capitalization of $73.91 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 4.22 and a beta of 1.11. The business’s 50 day moving average price is $267.01 and its two-hundred day moving average price is $254.89. 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 (NYSE:ITW) last posted 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 firm 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $2.55 EPS. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.40%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial boosted 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. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Citigroup upped their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $268.50.

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.