Kentucky Retirement Systems Insurance Trust Fund Buys 6,461 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 80.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,460 shares of the industrial products company's stock after purchasing an additional 6,461 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Illinois Tool Works were worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth $28,000. True Wealth Design LLC raised its holdings in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works in the third quarter worth approximately $35,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $269.30.

Illinois Tool Works Trading Down 0.5 %

Shares of ITW traded down $1.25 during trading hours on Friday, hitting $264.30. The company had a trading volume of 918,393 shares, compared to its average volume of 965,335. The firm has a market cap of $77.57 billion, a P/E ratio of 22.55, a P/E/G ratio of 4.52 and a beta of 1.11. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13. The stock's 50 day moving average price is $257.08 and its 200 day moving average price is $258.29. 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 announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.41 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works's payout ratio is currently 51.19%.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.