State of New Jersey Common Pension Fund D Sells 1,487 Shares of Illinois Tool Works Inc. (NYSE:ITW)

State of New Jersey Common Pension Fund D lessened its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,229 shares of the industrial products company’s stock after selling 1,487 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Illinois Tool Works were worth $44,852,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. raised its holdings in Illinois Tool Works by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after purchasing an additional 84 shares during the last quarter. Rockline Wealth Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at $4,180,000. Wesbanco Bank Inc. grew its holdings in Illinois Tool Works by 23.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after acquiring an additional 1,152 shares during the period. Ziegler Capital Management LLC bought a new position in shares of Illinois Tool Works in the 4th quarter worth about $224,000. Finally, Tyche Wealth Partners LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $2,972,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.0 %

Shares of Illinois Tool Works stock traded up $0.07 on Friday, hitting $248.23. The company had a trading volume of 947,179 shares, compared to its average volume of 1,241,645. Illinois Tool Works Inc. has a 1 year low of $217.06 and a 1 year high of $271.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a 50 day moving average of $260.16 and a 200-day moving average of $251.28. The stock has a market capitalization of $74.16 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 3.70 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. As a group, sell-side analysts forecast that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Insiders Place Their Bets

In other news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $256.42, for a total value of $205,392.42. Following the transaction, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now directly owns 5,870 shares of the company’s stock, valued at approximately $1,505,185.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the transaction, the chief financial officer now directly owns 46,404 shares in the company, valued at $12,299,844.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,471 shares of company stock valued at $48,712,316. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ITW shares. Barclays boosted their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $257.00.

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.