Oregon Public Employees Retirement Fund Sells 90 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Oregon Public Employees Retirement Fund reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,064 shares of the industrial products company’s stock after selling 90 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Illinois Tool Works were worth $5,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Pension Service boosted its position in shares of Illinois Tool Works by 7.1% in the 4th quarter. National Pension Service now owns 614,327 shares of the industrial products company’s stock worth $155,769,000 after purchasing an additional 40,970 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Illinois Tool Works by 1.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 27,262 shares of the industrial products company’s stock worth $6,913,000 after buying an additional 519 shares during the period. FourThought Financial Partners LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth $2,528,000. Bank of New York Mellon Corp raised its stake in Illinois Tool Works by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock worth $634,797,000 after buying an additional 46,287 shares during the period. Finally, BHK Investment Advisors LLC raised its stake in Illinois Tool Works by 2.6% during the 4th quarter. BHK Investment Advisors LLC now owns 2,392 shares of the industrial products company’s stock worth $607,000 after buying an additional 60 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.26% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

ITW opened at $261.30 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business’s 50-day moving average price is $256.84 and its two-hundred day moving average price is $258.93. The company has a market capitalization of $76.69 billion, a price-to-earnings ratio of 22.29, a P/E/G ratio of 4.56 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $269.30.

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.