Strs Ohio Increases Position in Illinois Tool Works Inc. (ITW)

Strs Ohio boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,832 shares of the industrial products company’s stock after buying an additional 2,054 shares during the period. Strs Ohio’s holdings in Illinois Tool Works were worth $22,797,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ITW. Oregon Public Employees Retirement Fund boosted its stake in Illinois Tool Works by 12,441.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock valued at $79,000 after buying an additional 9,962,137 shares during the last quarter. Norges Bank bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $402,071,000. Massachusetts Financial Services Co. MA boosted its stake in Illinois Tool Works by 27.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock valued at $1,117,426,000 after buying an additional 1,907,471 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Illinois Tool Works by 20.9% during the third quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock valued at $677,888,000 after buying an additional 830,998 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Illinois Tool Works by 3,024.5% during the fourth quarter. Bessemer Group Inc. now owns 749,011 shares of the industrial products company’s stock valued at $94,892,000 after buying an additional 725,039 shares during the last quarter. 78.66% of the stock is owned by institutional investors.

Shares of ITW stock opened at $158.33 on Monday. Illinois Tool Works Inc. has a 1 year low of $117.75 and a 1 year high of $159.66. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85. The company has a market cap of $51.76 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 2.59 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.53%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

In other Illinois Tool Works news, EVP John R. Hartnett sold 14,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total transaction of $1,986,500.00. Following the sale, the executive vice president now directly owns 29,448 shares in the company, valued at $4,034,376. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total value of $6,349,737.66. Following the sale, the insider now owns 71,927 shares in the company, valued at $10,486,237.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,970 shares of company stock worth $18,348,472. Company insiders own 0.87% of the company’s stock.

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price target on Illinois Tool Works from $137.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. BMO Capital Markets dropped their price target on Illinois Tool Works from $145.00 to $140.00 and set a “market perform” rating for the company in a research note on Monday, February 25th. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $128.00 to $124.00 in a research note on Tuesday, February 5th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Illinois Tool Works in a research note on Friday, February 1st. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $136.60.

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Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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