Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 409,108 shares of the industrial products company's stock after selling 5,612 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Illinois Tool Works worth $103,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ITW. Franklin Resources Inc. increased its stake in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after acquiring an additional 398,676 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock valued at $847,610,000 after acquiring an additional 322,192 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock worth $106,352,000 after purchasing an additional 308,935 shares during the period. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in shares of Illinois Tool Works by 787.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company's stock worth $48,945,000 after purchasing an additional 165,607 shares during the period. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of ITW stock traded down $1.42 on Friday, hitting $264.13. 495,291 shares of the stock traded hands, compared to its average volume of 951,605. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The company has a market capitalization of $77.52 billion, a PE ratio of 22.53, a PEG ratio of 4.52 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company's fifty day moving average is $257.23 and its 200 day moving average is $258.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a report on Wednesday. Jefferies Financial Group boosted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Barclays decreased their target price on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $269.30.

Illinois Tool Works Profile

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.