New York State Teachers Retirement System lifted its holdings in Illinois Tool Works (NYSE:ITW) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 470,483 shares of the industrial products company’s stock after acquiring an additional 3,941 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Illinois Tool Works worth $73,706,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in ITW. Almanack Investment Partners LLC. acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $112,000. Legacy Advisors LLC increased its position in shares of Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 623 shares during the last quarter. Santori & Peters Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $121,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $130,000. Finally, Risk Paradigm Group LLC acquired a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $133,000. Hedge funds and other institutional investors own 78.16% of the company’s stock.
ITW has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $192.00 price objective for the company in a report on Thursday, January 18th. Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research note on Thursday, January 25th. Argus boosted their price objective on shares of Illinois Tool Works to $200.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Citigroup boosted their price objective on shares of Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $200.00 price target on shares of Illinois Tool Works in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $177.67.
Shares of Illinois Tool Works opened at $145.77 on Friday, Marketbeat Ratings reports. The stock has a market cap of $49.45 billion, a PE ratio of 22.12, a P/E/G ratio of 1.86 and a beta of 1.25. Illinois Tool Works has a 1-year low of $144.54 and a 1-year high of $146.36. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 2.20.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.86 by $0.04. Illinois Tool Works had a net margin of 12.36% and a return on equity of 51.79%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The company’s revenue was up 7.9% on a year-over-year basis. analysts forecast that Illinois Tool Works will post 7.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 29th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, June 28th. Illinois Tool Works’s payout ratio is currently 47.34%.
Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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