Oregon Public Employees Retirement Fund lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 79,266 shares of the industrial products company’s stock after selling 807 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Illinois Tool Works were worth $10,042,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Indiana Trust & Investment Management CO grew its stake in Illinois Tool Works by 3.4% in the fourth quarter. Indiana Trust & Investment Management CO now owns 2,421 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 80 shares during the period. Frontier Investment Mgmt Co. grew its stake in Illinois Tool Works by 1.2% in the fourth quarter. Frontier Investment Mgmt Co. now owns 7,898 shares of the industrial products company’s stock valued at $1,001,000 after acquiring an additional 93 shares during the period. Dowling & Yahnke LLC grew its stake in Illinois Tool Works by 0.5% in the fourth quarter. Dowling & Yahnke LLC now owns 19,820 shares of the industrial products company’s stock valued at $2,756,000 after acquiring an additional 96 shares during the period. Physicians Financial Services Inc. grew its stake in Illinois Tool Works by 4.3% in the fourth quarter. Physicians Financial Services Inc. now owns 2,399 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 100 shares during the period. Finally, Waldron Private Wealth LLC grew its stake in Illinois Tool Works by 4.4% in the third quarter. Waldron Private Wealth LLC now owns 2,731 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 114 shares during the period. 77.13% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on ITW. BMO Capital Markets reduced their price objective on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a research note on Monday. Credit Suisse Group reissued a “hold” rating and issued a $124.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, January 22nd. ValuEngine raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Deutsche Bank set a $133.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Monday, December 10th. Finally, JPMorgan Chase & Co. cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Thursday, January 10th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $136.60.
Shares of NYSE:ITW opened at $144.08 on Friday. The company has a market cap of $47.52 billion, a P/E ratio of 18.96, a P/E/G ratio of 2.36 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.26 and a current ratio of 1.63. Illinois Tool Works Inc. has a 12-month low of $117.75 and a 12-month high of $171.83.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. Illinois Tool Works’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 earnings per share. As a group, research analysts predict that Illinois Tool Works Inc. will post 7.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 29th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.78%. Illinois Tool Works’s payout ratio is 52.63%.
In related news, CEO Ernest Scott Santi sold 108,885 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the transaction, the chief executive officer now owns 149,777 shares of the company’s stock, valued at $19,948,798.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 58,736 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total value of $7,806,601.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,037 shares of company stock worth $34,307,729. 0.82% of the stock is owned by insiders.
Illinois Tool Works 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.
Further Reading: What is the Bid-Ask Spread?
Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.