Illinois Municipal Retirement Fund Has $15.42 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 22.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,800 shares of the industrial products company’s stock after selling 17,194 shares during the period. Illinois Municipal Retirement Fund’s holdings in Illinois Tool Works were worth $15,416,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after buying an additional 149,272 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the period. Fisher Asset Management LLC increased its position in shares of Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after purchasing an additional 135,023 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 valued at $634,797,000 after purchasing an additional 46,287 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after purchasing an additional 32,656 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $261.24 on Tuesday. The firm has a market capitalization of $76.67 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 4.56 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock’s 50 day moving average is $256.91 and its 200-day moving average is $258.73.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 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%. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ITW shares. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Robert W. Baird upped their price target on 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 cut their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $269.30.

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.