American National Bank lowered its stake in Illinois Tool Works Inc. (NYSE:ITW – Free Report) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,231 shares of the industrial products company’s stock after selling 67 shares during the quarter. American National Bank’s holdings in Illinois Tool Works were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in shares of Illinois Tool Works by 106,553.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after purchasing an additional 7,178,474 shares during the period. Norges Bank purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at $708,259,000. Morgan Stanley boosted its holdings in Illinois Tool Works by 59.2% in the 4th quarter. Morgan Stanley now owns 4,591,278 shares of the industrial products company’s stock worth $1,011,459,000 after buying an additional 1,707,780 shares during the period. BlackRock Inc. increased its stake in Illinois Tool Works by 4.7% in the 1st quarter. BlackRock Inc. now owns 22,309,285 shares of the industrial products company’s stock worth $5,431,195,000 after buying an additional 997,389 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Illinois Tool Works by 12.1% during the first quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock valued at $1,363,875,000 after acquiring an additional 607,321 shares during the period. 79.56% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Stock Down 0.3 %
Shares of ITW opened at $237.71 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 2.25. The business has a fifty day moving average of $245.99 and a 200 day moving average of $238.81. The company has a market cap of $71.88 billion, a PE ratio of 23.51, a P/E/G ratio of 4.25 and a beta of 1.15. Illinois Tool Works Inc. has a 52-week low of $180.27 and a 52-week high of $264.19.
Illinois Tool Works Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a dividend of $1.40 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. Illinois Tool Works’s dividend payout ratio is currently 51.83%.
Analyst Ratings Changes
Several research firms recently issued reports on ITW. Wells Fargo & Company increased their target price on Illinois Tool Works from $235.00 to $240.00 in a research report on Monday, July 10th. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Morgan Stanley lifted their price target on shares of Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. Finally, Barclays dropped their price objective on shares of Illinois Tool Works from $213.00 to $198.00 in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $237.18.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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