Oregon Public Employees Retirement Fund Sells 90 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Oregon Public Employees Retirement Fund lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 23,064 shares of the industrial products company’s stock after selling 90 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Illinois Tool Works were worth $5,848,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITW. Assenagon Asset Management S.A. boosted its holdings in shares of Illinois Tool Works by 12.0% during the third quarter. Assenagon Asset Management S.A. now owns 9,332 shares of the industrial products company’s stock worth $2,446,000 after acquiring an additional 1,000 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Illinois Tool Works by 3.5% during the third quarter. Fidelis Capital Partners LLC now owns 3,200 shares of the industrial products company’s stock worth $820,000 after acquiring an additional 107 shares during the period. Evermay Wealth Management LLC boosted its holdings in shares of Illinois Tool Works by 18.0% during the third quarter. Evermay Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 188 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in shares of Illinois Tool Works by 18.9% during the third quarter. First Trust Direct Indexing L.P. now owns 8,893 shares of the industrial products company’s stock worth $2,331,000 after acquiring an additional 1,413 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Illinois Tool Works by 0.5% during the third quarter. Pinnacle Associates Ltd. now owns 50,307 shares of the industrial products company’s stock worth $13,177,000 after acquiring an additional 268 shares during the period. Institutional investors own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI cut their price target on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Barclays cut their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Stock Down 1.2 %

Shares of ITW opened at $261.30 on Thursday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market cap of $76.69 billion, a P/E ratio of 22.29, a P/E/G ratio of 4.56 and a beta of 1.11. 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 firm has a 50 day simple moving average of $256.84 and a two-hundred day simple moving average of $258.93.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 net margin of 21.94% and a return on equity of 95.39%. Research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% of the company’s stock.

Illinois Tool Works Company 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.