New York State Teachers Retirement System Sells 11,396 Shares of Illinois Tool Works Inc. (NYSE:ITW)

New York State Teachers Retirement System decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,149 shares of the industrial products company's stock after selling 11,396 shares during the period. New York State Teachers Retirement System owned 0.07% of Illinois Tool Works worth $49,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at about $28,000. True Wealth Design LLC increased its holdings in 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 worth $30,000 after acquiring an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth approximately $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.7 %

ITW traded up $1.79 during trading on Wednesday, hitting $264.04. 818,307 shares of the company's stock were exchanged, compared to its average volume of 969,528. The stock has a 50 day moving average price of $257.57 and a 200 day moving average price of $258.02. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a market cap of $77.97 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 4.42 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating 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%. As a group, analysts expect that Illinois Tool Works Inc. will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.