Mitsubishi UFJ Trust & Banking Corp Increases Stock Position in Illinois Tool Works Inc. $ITW

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 298,504 shares of the industrial products company’s stock after purchasing an additional 38,482 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of Illinois Tool Works worth $77,838,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northcape Wealth Management LLC increased its position in Illinois Tool Works by 2.1% during the second quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock worth $475,000 after buying an additional 40 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Illinois Tool Works by 4.2% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 40 shares during the period. TFG Advisers LLC raised its position in Illinois Tool Works by 0.5% in the 2nd quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 42 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Illinois Tool Works by 3.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 42 shares during the period. Finally, Everpar Advisors LLC increased its stake in Illinois Tool Works by 1.7% in the third quarter. Everpar Advisors LLC now owns 2,574 shares of the industrial products company’s stock valued at $671,000 after purchasing an additional 42 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent research reports. The Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Evercore ISI lowered their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft upped their price target on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Wolfe Research lifted their price objective on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research report on Thursday, January 15th. Finally, Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $261.08.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $258.09 on Friday. The company has a market cap of $74.87 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 13.88 and a beta of 1.15. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $278.13. The business has a fifty day moving average of $251.58 and a two-hundred day moving average of $254.90. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.91 EPS. As a group, analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s payout ratio is 62.46%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.