Public Employees Retirement Association of Colorado Has $9.72 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Public Employees Retirement Association of Colorado lessened its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,325 shares of the industrial products company's stock after selling 2,601 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Illinois Tool Works were worth $9,718,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Berger Financial Group Inc acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $262,000. Johnson Financial Group Inc. raised its stake in shares of Illinois Tool Works by 71.4% in the fourth quarter. Johnson Financial Group Inc. now owns 1,361 shares of the industrial products company's stock valued at $353,000 after acquiring an additional 567 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Illinois Tool Works by 5.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 8,087 shares of the industrial products company's stock worth $2,050,000 after acquiring an additional 439 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Illinois Tool Works by 4.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 10,372 shares of the industrial products company's stock worth $2,630,000 after acquiring an additional 450 shares during the last quarter. Finally, Burling Wealth Partners LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at $6,013,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insider Buying and Selling

In other news, CFO Michael M. Larsen sold 41,472 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the transaction, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Trading Up 1.3 %

Shares of NYSE ITW traded up $3.02 during midday trading on Friday, reaching $242.26. 1,543,262 shares of the stock were exchanged, compared to its average volume of 1,008,415. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a market capitalization of $71.07 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 4.56 and a beta of 1.12. 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 has a 50-day simple moving average of $245.26 and a two-hundred day simple moving average of $256.44.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Illinois Tool Works's dividend payout ratio is 51.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ITW. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Truist Financial lowered their price target on shares of Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday. 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 report on Wednesday, February 19th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Citigroup lowered their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $256.73.

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.