Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,676 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,139 shares of the industrial products company's stock after selling 1,676 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Illinois Tool Works were worth $14,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Baron Wealth Management LLC raised its stake in shares of Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after buying an additional 39 shares during the last quarter. Cypress Capital Group grew its holdings in Illinois Tool Works by 1.2% during the 3rd quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company's stock worth $962,000 after acquiring an additional 43 shares during the period. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.2% during the 4th quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company's stock valued at $937,000 after acquiring an additional 44 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after purchasing an additional 46 shares during the period. Finally, Valmark Advisers Inc. boosted its position in shares of Illinois Tool Works by 0.5% in the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company's stock worth $2,343,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 79.77% of the company's stock.

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Illinois Tool Works Stock Down 0.3 %

ITW traded down $0.71 during trading on Tuesday, hitting $254.93. The company had a trading volume of 786,043 shares, compared to its average volume of 932,129. The company has a market capitalization of $74.82 billion, a PE ratio of 21.75, a PEG ratio of 4.56 and a beta of 1.13. The firm's 50-day moving average price is $258.60 and its 200 day moving average price is $260.66. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. 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 (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. Illinois Tool Works's payout ratio is 51.19%.

Analyst Ratings Changes

ITW has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, Citigroup decreased their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have assigned 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, the company presently has a consensus rating of "Hold" and an average target price of $269.10.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at approximately $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 159,925 shares of company stock worth $42,973,845 in the last ninety days. Insiders own 0.88% of the company's stock.

About Illinois Tool Works

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.