Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by BancorpSouth Bank

BancorpSouth Bank grew its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,169 shares of the industrial products company’s stock after acquiring an additional 539 shares during the quarter. BancorpSouth Bank’s holdings in Illinois Tool Works were worth $3,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in Illinois Tool Works in the 2nd quarter worth about $201,000. Rockland Trust Co. increased its stake in Illinois Tool Works by 7.9% in the 2nd quarter. Rockland Trust Co. now owns 4,430 shares of the industrial products company’s stock worth $668,000 after buying an additional 323 shares during the period. DNB Asset Management AS increased its stake in Illinois Tool Works by 14.7% in the 2nd quarter. DNB Asset Management AS now owns 80,951 shares of the industrial products company’s stock worth $12,208,000 after buying an additional 10,363 shares during the period. WINTON GROUP Ltd increased its stake in Illinois Tool Works by 70.3% in the 2nd quarter. WINTON GROUP Ltd now owns 126,431 shares of the industrial products company’s stock worth $19,067,000 after buying an additional 52,193 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in Illinois Tool Works by 9.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,332 shares of the industrial products company’s stock worth $502,000 after buying an additional 282 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Ernest Scott Santi sold 152,594 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $169.05, for a total value of $25,796,015.70. Following the sale, the chief executive officer now directly owns 150,922 shares in the company, valued at approximately $25,513,364.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randall J. Scheuneman sold 11,977 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the completion of the sale, the chief accounting officer now owns 18,649 shares in the company, valued at $3,200,727.87. The disclosure for this sale can be found here. Insiders sold a total of 346,180 shares of company stock worth $57,725,646 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Several research analysts recently commented on the stock. Stifel Nicolaus set a $143.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Credit Suisse Group raised their target price on shares of Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. UBS Group raised their target price on shares of Illinois Tool Works from $154.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Citigroup cut their target price on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Argus set a $180.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $150.57.

NYSE ITW opened at $174.77 on Wednesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.27 and a current ratio of 2.81. The company has a market capitalization of $56.70 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 2.99 and a beta of 1.22. The company’s 50-day simple moving average is $161.30 and its two-hundred day simple moving average is $153.40. Illinois Tool Works Inc. has a one year low of $117.75 and a one year high of $179.29.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Friday, October 25th. The industrial products company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.10. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm posted $1.76 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts expect that Illinois Tool Works Inc. will post 7.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 30th. Illinois Tool Works’s dividend payout ratio is currently 56.32%.

Illinois Tool Works Company Profile

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.

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

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