New York State Teachers Retirement System reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 472,229 shares of the industrial products company’s stock after selling 4,172 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of Illinois Tool Works worth $69,871,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of ITW. Cetera Investment Advisers acquired a new position in shares of Illinois Tool Works during the 2nd quarter valued at $601,000. Quantbot Technologies LP lifted its position in shares of Illinois Tool Works by 71.3% during the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after acquiring an additional 10,457 shares during the period. Ffcm LLC lifted its position in shares of Illinois Tool Works by 6.4% during the 2nd quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after acquiring an additional 714 shares during the period. Oakmont Partners LLC lifted its position in shares of Illinois Tool Works by 51.1% during the 2nd quarter. Oakmont Partners LLC now owns 15,856 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 5,362 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its position in shares of Illinois Tool Works by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 18,497 shares of the industrial products company’s stock valued at $2,650,000 after acquiring an additional 786 shares during the period. 75.03% of the stock is currently owned by institutional investors.
Shares of Illinois Tool Works Inc. (ITW) opened at $157.61 on Tuesday. Illinois Tool Works Inc. has a one year low of $120.06 and a one year high of $159.36. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The stock has a market cap of $53,836.01, a price-to-earnings ratio of 24.94, a PEG ratio of 2.35 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. research analysts expect that Illinois Tool Works Inc. will post 6.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.98%. Illinois Tool Works’s payout ratio is 47.78%.
In related news, EVP Juan Valls sold 48,622 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total transaction of $7,620,526.06. Following the completion of the transaction, the executive vice president now owns 71,101 shares in the company, valued at $11,143,659.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the transaction, the insider now owns 18,622 shares of the company’s stock, valued at approximately $2,886,410. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,506 shares of company stock valued at $19,801,832. Company insiders own 0.90% of the company’s stock.
ITW has been the topic of a number of research reports. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Royal Bank Of Canada boosted their target price on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Finally, Morgan Stanley boosted their target price on shares of Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $157.27.
Illinois Tool Works Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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