BankPlus Trust Department Invests $447,000 in Illinois Tool Works Inc. (NYSE:ITW)

BankPlus Trust Department acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,762 shares of the industrial products company’s stock, valued at approximately $447,000.

Several other institutional investors also recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $260,000. Crestwood Advisors Group LLC increased its stake in shares of Illinois Tool Works by 9.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,007 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 345 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 46 shares during the last quarter. World Equity Group Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $340,000. Finally, Howard Capital Management Inc. increased its stake in shares of Illinois Tool Works by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 1,949 shares of the industrial products company’s stock worth $494,000 after purchasing an additional 99 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ITW. Jefferies Financial Group lifted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Barclays reduced their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI reduced their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Stock Performance

NYSE ITW opened at $261.24 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $76.67 billion, a P/E ratio of 22.29, a P/E/G ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a 50-day moving average price of $256.91 and a two-hundred day moving average price of $258.73.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is presently 51.19%.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.88% of the company’s stock.

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.