Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,307 shares of the industrial products company's stock after selling 6,725 shares during the period. Public Employees Retirement System of Ohio's holdings in Illinois Tool Works were worth $33,041,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wick Capital Partners LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $291,000. Breed s Hill Capital LLC lifted its holdings in Illinois Tool Works by 29.0% during the fourth quarter. Breed s Hill Capital LLC now owns 1,111 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 250 shares in the last quarter. Vise Technologies Inc. grew its position in shares of Illinois Tool Works by 103.3% in the fourth quarter. Vise Technologies Inc. now owns 3,679 shares of the industrial products company's stock valued at $933,000 after purchasing an additional 1,869 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth about $64,000. Finally, McIlrath & Eck LLC raised its position in shares of Illinois Tool Works by 9.1% during the 4th quarter. McIlrath & Eck LLC now owns 2,088 shares of the industrial products company's stock worth $529,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.4%

Shares of NYSE ITW traded up $0.88 during trading on Thursday, reaching $244.71. 186,026 shares of the stock were exchanged, compared to its average volume of 1,011,288. The company has a market capitalization of $71.70 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. The business's 50-day moving average price is $240.51 and its 200 day moving average price is $254.44. 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 $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the business earned $2.44 EPS. Illinois Tool Works's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.45%. Illinois Tool Works's payout ratio is 52.77%.

Insider Activity

In related news, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Truist Financial cut their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays dropped their price target on Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI decreased their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $253.42.

Illinois Tool Works 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.