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

Public Employees Retirement Association of Colorado decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,232 shares of the industrial products company’s stock after selling 2,502 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Illinois Tool Works were worth $11,332,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Illinois Tool Works in the fourth quarter worth $818,408,000. Corient Private Wealth LLC lifted its holdings in Illinois Tool Works by 122.7% in the fourth quarter. Corient Private Wealth LLC now owns 629,636 shares of the industrial products company’s stock worth $164,927,000 after purchasing an additional 346,919 shares during the period. International Assets Investment Management LLC grew its position in Illinois Tool Works by 23,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock valued at $82,579,000 after buying an additional 313,906 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth about $65,747,000. Finally, Pinebridge Investments L.P. lifted its stake in shares of Illinois Tool Works by 380.7% in the 4th quarter. Pinebridge Investments L.P. now owns 261,590 shares of the industrial products company’s stock worth $68,521,000 after acquiring an additional 207,167 shares during the period. Institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ITW. Jefferies Financial Group lowered their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Truist Financial dropped their price objective on Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Barclays lowered their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $259.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $275.00 to $267.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.30.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. bought 775 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now directly owns 121,506 shares in the company, valued at approximately $29,018,062.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW opened at $248.02 on Tuesday. The company has a 50-day moving average of $240.87 and a two-hundred day moving average of $251.25. The stock has a market cap of $74.01 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.77 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, equities research analysts expect that Illinois Tool Works Inc. will post 10.14 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, June 28th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Illinois Tool Works’s dividend payout ratio is 55.23%.

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.