Teacher Retirement System of Texas reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,669 shares of the industrial products company's stock after selling 39,508 shares during the quarter. Teacher Retirement System of Texas' holdings in Illinois Tool Works were worth $27,679,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Northwest Financial Advisors purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at $48,000. Principal Street Partners LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $208,000. Van Hulzen Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $221,000. Principal Securities Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $921,000. Finally, Montag A & Associates Inc. boosted its position in shares of Illinois Tool Works by 3.5% in the 4th quarter. Montag A & Associates Inc. now owns 8,053 shares of the industrial products company's stock worth $2,120,000 after purchasing an additional 270 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Price Performance
ITW traded up $0.60 during trading on Friday, hitting $250.33. The company's stock had a trading volume of 585,438 shares, compared to its average volume of 1,175,953. The firm has a market capitalization of $74.70 billion, a price-to-earnings ratio of 24.69, a P/E/G ratio of 3.70 and a beta of 1.14. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The business's fifty day simple moving average is $257.42 and its 200 day simple moving average is $252.48. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07.
Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.24 EPS for the current fiscal year.
Illinois Tool Works Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, June 28th. Illinois Tool Works's dividend payout ratio is presently 55.23%.
Insider Activity at Illinois Tool Works
In related news, Chairman Ernest Scott Santi sold 45,676 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.12, for a total value of $11,698,537.12. Following the transaction, the chairman now directly owns 221,015 shares of the company's stock, valued at approximately $56,606,361.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares of the company's stock, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ernest Scott Santi sold 45,676 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.12, for a total transaction of $11,698,537.12. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,606,361.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,471 shares of company stock valued at $23,248,816. 0.88% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
ITW has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Illinois Tool Works from $230.00 to $229.00 and set an "underweight" rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a "hold" rating in a research note on Wednesday, April 17th. StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an "underweight" rating for the company in a research report on Wednesday, May 1st. Finally, Citigroup boosted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $257.78.
Check Out Our Latest Stock Analysis on Illinois Tool Works
About Illinois Tool Works
(
Free Report)
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.
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