Oregon Public Employees Retirement Fund boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 64,455 shares of the industrial products company’s stock after buying an additional 985 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Illinois Tool Works were worth $14,278,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $711,314,000. Renaissance Technologies LLC boosted its holdings in shares of Illinois Tool Works by 464.1% during the fourth quarter. Renaissance Technologies LLC now owns 271,900 shares of the industrial products company’s stock worth $55,435,000 after acquiring an additional 223,700 shares during the period. Wells Fargo & Company MN grew its position in shares of Illinois Tool Works by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,578,570 shares of the industrial products company’s stock valued at $1,545,120,000 after purchasing an additional 214,462 shares during the last quarter. Mechanics Bank Trust Department increased its stake in shares of Illinois Tool Works by 5,877.0% during the fourth quarter. Mechanics Bank Trust Department now owns 217,322 shares of the industrial products company’s stock worth $777,000 after purchasing an additional 213,686 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in Illinois Tool Works by 10.3% during the 4th quarter. Flossbach Von Storch AG now owns 2,192,565 shares of the industrial products company’s stock worth $447,020,000 after purchasing an additional 204,018 shares during the last quarter. Hedge funds and other institutional investors own 77.44% of the company’s stock.
Illinois Tool Works stock opened at $225.99 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. The stock has a market cap of $71.52 billion, a PE ratio of 34.24, a P/E/G ratio of 3.88 and a beta of 1.07. Illinois Tool Works Inc. has a 12-month low of $148.66 and a 12-month high of $228.77. The business’s 50-day moving average price is $219.65 and its two-hundred day moving average price is $207.91.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 31st were issued a dividend of $1.14 per share. The ex-dividend date was Tuesday, March 30th. This represents a $4.56 annualized dividend and a dividend yield of 2.02%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.84%.
In other Illinois Tool Works news, CEO Ernest Scott Santi sold 1,231 shares of the business’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $205.37, for a total transaction of $252,810.47. Following the sale, the chief executive officer now directly owns 295,172 shares of the company’s stock, valued at approximately $60,619,473.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of the company’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $203.00, for a total transaction of $1,468,096.00. 0.79% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. The Goldman Sachs Group upgraded Illinois Tool Works from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $195.00 to $217.00 in a research report on Tuesday, January 19th. Barclays lifted their price objective on shares of Illinois Tool Works from $207.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 13th. Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, January 15th. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $203.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a “hold” rating on shares of Illinois Tool Works in a research report on Tuesday, February 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $208.76.
Illinois Tool Works Company 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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