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

UMB Bank n.a. grew its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 93.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,558 shares of the industrial products company's stock after acquiring 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.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock valued at $3,277,127,000 after buying an additional 149,272 shares in the last quarter. Geode Capital Management LLC grew its stake 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 worth $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock worth $877,234,000 after purchasing an additional 135,023 shares during the period. Legal & General Group Plc lifted its holdings in shares of Illinois Tool Works by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock worth $640,425,000 after buying an additional 62,645 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock worth $484,685,000 after buying an additional 32,656 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective 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. Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Two 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $270.11.

Illinois Tool Works Price Performance

Shares of ITW traded up $0.57 during trading hours on Monday, hitting $256.50. 844,760 shares of the stock were exchanged, compared to its average volume of 768,759. The stock's 50-day moving average price is $264.26 and its two-hundred day moving average price is $255.73. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $75.74 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 3.55 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 earnings per share. Research analysts expect 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 was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $1.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works's dividend payout ratio is presently 51.90%.

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.