California State Teachers Retirement System cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 514,951 shares of the industrial products company’s stock after selling 8,477 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Illinois Tool Works worth $85,920,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of ITW. Almanack Investment Partners LLC. bought a new position in Illinois Tool Works during the fourth quarter worth about $112,000. Legacy Advisors LLC lifted its holdings in Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 623 shares in the last quarter. Santori & Peters Inc. bought a new position in Illinois Tool Works during the fourth quarter worth about $121,000. Valeo Financial Advisors LLC bought a new position in Illinois Tool Works during the third quarter worth about $130,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Illinois Tool Works during the fourth quarter worth about $130,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $169.20 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $57,790.00, a PE ratio of 24.96, a P/E/G ratio of 2.19 and a beta of 1.21. Illinois Tool Works Inc. has a 12-month low of $129.17 and a 12-month high of $179.07.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Friday, March 30th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is currently 46.02%.
ITW has been the topic of several recent analyst reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a report on Friday, January 12th. Bank of America assumed coverage on Illinois Tool Works in a report on Monday, December 11th. They issued a “buy” rating and a $190.00 price target on the stock. Wells Fargo & Co set a $190.00 price target on Illinois Tool Works and gave the company a “buy” rating in a report on Monday, December 4th. Jefferies Group restated a “buy” rating and issued a $190.00 price target on shares of Illinois Tool Works in a report on Wednesday, November 29th. Finally, Seaport Global Securities restated a “buy” rating and issued a $200.00 price target on shares of Illinois Tool Works in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $177.18.
In related news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at $7,564,466. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.
Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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