Mitsubishi UFJ Trust & Banking Corp Has $58.45 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,522 shares of the industrial products company’s stock after selling 24,526 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Illinois Tool Works worth $58,451,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Swedbank AB grew its holdings in shares of Illinois Tool Works by 2.0% during the third quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after purchasing an additional 1,768 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Illinois Tool Works by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after buying an additional 3,903 shares during the period. Douglass Winthrop Advisors LLC grew its holdings in Illinois Tool Works by 87.8% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 3,590 shares of the industrial products company’s stock worth $941,000 after acquiring an additional 1,678 shares during the last quarter. DRW Securities LLC bought a new position in shares of Illinois Tool Works during the third quarter valued at $809,000. Finally, Bank of Montreal Can lifted its holdings in shares of Illinois Tool Works by 1.3% during the third quarter. Bank of Montreal Can now owns 555,328 shares of the industrial products company’s stock worth $146,590,000 after purchasing an additional 7,232 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred 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 transaction, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. Corporate insiders own 1.26% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $254.93 on Wednesday. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market capitalization of $74.82 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company’s 50-day moving average is $258.65 and its 200-day moving average is $260.74. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly 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%. Equities research 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. Shareholders of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.19%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded 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. Jefferies Financial Group raised their price target 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. 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 on the stock in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $269.10.

Illinois Tool Works Company 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.