State of Tennessee Department of Treasury Has $15.89 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

State of Tennessee Department of Treasury cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,651 shares of the industrial products company’s stock after selling 2,743 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Illinois Tool Works were worth $15,886,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Illinois Tool Works by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock worth $6,675,473,000 after purchasing an additional 94,601 shares during the last quarter. Geode Capital Management LLC raised its stake in Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock valued at $1,620,491,000 after buying an additional 99,753 shares during the period. Capital Research Global Investors boosted its stake in shares of Illinois Tool Works by 1.8% during the 4th quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company’s stock worth $1,047,837,000 after acquiring an additional 71,934 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after acquiring an additional 95,925 shares during the last quarter. Finally, Norges Bank bought a new stake in Illinois Tool Works in the 4th quarter valued at $806,291,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 3.9 %

ITW opened at $236.49 on Wednesday. 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. The stock has a market capitalization of $69.38 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a 50-day simple moving average of $248.77 and a 200 day simple moving average of $257.50.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 net margin of 21.94% and a return on equity of 95.39%. Analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 55,113 shares of the company’s stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. 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 90 days. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ITW shares. Deutsche Bank Aktiengesellschaft raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Barclays decreased their target price on Illinois Tool Works from $252.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, UBS Group dropped their target price on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $260.09.

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.