1,590 Shares in Illinois Tool Works Inc. (ITW) Purchased by Pinnacle Bank

Pinnacle Bank bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,590 shares of the industrial products company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Illinois Tool Works by 12,441.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 9,962,137 shares in the last quarter. Norges Bank purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $402,071,000. Massachusetts Financial Services Co. MA increased its stake in shares of Illinois Tool Works by 27.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock worth $1,117,426,000 after purchasing an additional 1,907,471 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock worth $677,888,000 after purchasing an additional 830,998 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Illinois Tool Works by 3,024.5% in the 4th quarter. Bessemer Group Inc. now owns 749,011 shares of the industrial products company’s stock worth $94,892,000 after purchasing an additional 725,039 shares in the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Shares of ITW traded up $0.74 during midday trading on Tuesday, hitting $157.93. 947,303 shares of the company traded hands, compared to its average volume of 1,387,171. Illinois Tool Works Inc. has a 52 week low of $117.75 and a 52 week high of $158.69. The company has a market capitalization of $51.27 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm earned $1.70 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works Inc. will post 7.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, April 8th. BMO Capital Markets dropped their target price on shares of Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a report on Monday, February 25th. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $128.00 to $124.00 in a report on Tuesday, February 5th. Finally, Credit Suisse Group reaffirmed a “hold” rating on shares of Illinois Tool Works in a report on Friday, February 1st. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $136.60.

In other news, insider Sundaram Nagarajan sold 18,651 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the sale, the insider now directly owns 44,954 shares in the company, valued at approximately $6,192,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the sale, the insider now owns 71,927 shares in the company, valued at $10,486,237.33. The disclosure for this sale can be found here. Insiders have sold a total of 128,970 shares of company stock valued at $18,348,472 in the last three months. Insiders own 0.87% of the company’s stock.

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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.

Further Reading: Resistance Level

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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