Bank OZK Has $728,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Bank OZK cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,779 shares of the industrial products company’s stock after selling 203 shares during the quarter. Bank OZK’s holdings in Illinois Tool Works were worth $728,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Citizens Financial Group Inc. RI lifted its holdings in shares of Illinois Tool Works by 139.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 3,123 shares of the industrial products company’s stock worth $818,000 after buying an additional 1,820 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of Illinois Tool Works by 25.3% in the fourth quarter. Kovack Advisors Inc. now owns 1,588 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 321 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Illinois Tool Works by 60.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 5,245 shares of the industrial products company’s stock valued at $1,374,000 after purchasing an additional 1,970 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at $305,000. Finally, Gould Asset Management LLC CA acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at $209,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $0.12 during trading hours on Friday, hitting $248.28. 947,179 shares of the company’s stock were exchanged, compared to its average volume of 1,023,968. The stock’s 50-day moving average is $260.04 and its 200-day moving average is $251.37. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The stock has a market cap of $74.17 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.65 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $217.06 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, research analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is 57.49%.

Insider Activity at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock worth $48,712,316 over the last 90 days. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup upped their target price on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Truist Financial initiated coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Barclays increased their price objective on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $277.00 to $240.00 in a research note on Tuesday, February 6th. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $257.00.

About Illinois Tool Works

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.