Blue Trust Inc. Has $2.16 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Blue Trust Inc. cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,527 shares of the industrial products company’s stock after selling 139 shares during the period. Blue Trust Inc.’s holdings in Illinois Tool Works were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after acquiring an additional 322,192 shares during the period. National Bank of Canada FI boosted its stake in Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares during the period. Geode Capital Management LLC increased its holdings in Illinois Tool Works by 2.7% during the 3rd 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. Finally, Benjamin Edwards Inc. raised its stake in shares of Illinois Tool Works by 787.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after purchasing an additional 165,607 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $257.98 on Friday. The company has a market capitalization of $76.18 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a 50-day simple moving average of $258.13 and a 200 day simple moving average of $257.65.

Illinois Tool Works (NYSE:ITW) last posted 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 return on equity of 95.39% and a net margin of 21.94%. On average, sell-side analysts predict that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.33%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Barclays lowered their price objective on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $271.00.

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.