Bank OZK Sells 99 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Bank OZK lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,389 shares of the industrial products company’s stock after selling 99 shares during the period. Bank OZK’s holdings in Illinois Tool Works were worth $606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $37,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW opened at $263.99 on Friday. The firm has a market cap of $77.48 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The business’s fifty day moving average is $257.00 and its 200-day moving average is $259.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ITW. Stifel Nicolaus decreased their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Barclays decreased their target price on 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. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Finally, StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $269.30.

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.