Teacher Retirement System of Texas Has $41.13 Million Stake in Illinois Tool Works Inc. $ITW

Teacher Retirement System of Texas raised its stake in Illinois Tool Works Inc. (NYSE:ITW) by 26.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 157,733 shares of the industrial products company’s stock after buying an additional 33,341 shares during the quarter. Teacher Retirement System of Texas’ holdings in Illinois Tool Works were worth $41,130,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ITW. Northcape Wealth Management LLC raised its position in Illinois Tool Works by 2.1% in the 2nd quarter. Northcape Wealth Management LLC now owns 1,922 shares of the industrial products company’s stock valued at $475,000 after buying an additional 40 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Illinois Tool Works by 4.2% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 988 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 40 shares during the last quarter. TFG Advisers LLC raised its holdings in shares of Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 42 shares during the last quarter. Freedom Investment Management Inc. boosted its holdings in Illinois Tool Works by 3.0% during the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 42 shares during the last quarter. Finally, Everpar Advisors LLC grew its position in Illinois Tool Works by 1.7% in the 3rd quarter. Everpar Advisors LLC now owns 2,574 shares of the industrial products company’s stock worth $671,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of several research analyst reports. Wolfe Research boosted their price objective on Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. The Goldman Sachs Group cut shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and dropped their target price for the company from $258.00 to $230.00 in a research note on Tuesday, December 16th. Barclays lifted their price target on shares of Illinois Tool Works from $243.00 to $244.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Finally, Wells Fargo & Company increased their price objective on Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $261.08.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $258.09 on Friday. The firm’s 50 day moving average is $251.58 and its 200 day moving average is $254.92. The stock has a market capitalization of $74.87 billion, a P/E ratio of 25.03, a PEG ratio of 13.96 and a beta of 1.15. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the previous year, the firm posted $3.91 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Wednesday, December 31st. Illinois Tool Works’s payout ratio is presently 62.46%.

Illinois Tool Works Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.