Teacher Retirement System of Texas Purchases 72,107 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Teacher Retirement System of Texas raised its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 56.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 198,887 shares of the industrial products company's stock after purchasing an additional 72,107 shares during the period. Teacher Retirement System of Texas owned 0.07% of Illinois Tool Works worth $50,430,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Baron Wealth Management LLC increased its holdings in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after acquiring an additional 39 shares in the last quarter. Cypress Capital Group increased its stake in shares of Illinois Tool Works by 1.2% in the third quarter. Cypress Capital Group now owns 3,671 shares of the industrial products company's stock worth $962,000 after purchasing an additional 43 shares in the last quarter. 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 purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Illinois Tool Works by 3.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company's stock valued at $398,000 after buying an additional 46 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in 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 buying an additional 47 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

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Illinois Tool Works Price Performance

Shares of NYSE ITW traded down $0.71 during mid-day trading on Tuesday, hitting $254.93. 786,043 shares of the company's stock traded hands, compared to its average volume of 932,129. The company has a market capitalization of $74.82 billion, a P/E ratio of 21.75, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. 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's 50-day moving average is $258.60 and its two-hundred day moving average is $260.66.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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 analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ITW shares. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Evercore ISI lowered their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus cut their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research note 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. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and an average price target of $269.10.

Insider Transactions at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is currently owned by insiders.

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.