Busey Bank Buys 53 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Busey Bank grew its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,448 shares of the industrial products company’s stock after purchasing an additional 53 shares during the period. Busey Bank’s holdings in Illinois Tool Works were worth $1,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pensionfund Sabic raised its position in shares of Illinois Tool Works by 37.0% in the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock valued at $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. raised its position in shares of 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 purchasing an additional 398,676 shares during the period. Clark & Stuart Inc bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank grew its stake in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in Illinois Tool Works during the third quarter valued at approximately $1,179,000. Institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial boosted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $269.89.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $256.59 on Thursday. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company has a fifty day moving average of $262.74 and a 200-day moving average of $256.86. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

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.