Teachers Retirement System of The State of Kentucky Purchases Shares of 64,042 Illinois Tool Works Inc. (NYSE:ITW)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 64,042 shares of the industrial products company’s stock, valued at approximately $11,570,000.

Other large investors also recently modified their holdings of the company. Hexagon Capital Partners LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $26,000. Standard Family Office LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $39,000. Old North State Trust LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $42,000. JFS Wealth Advisors LLC raised its holdings in shares of Illinois Tool Works by 51.0% during the 3rd quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock valued at $43,000 after buying an additional 80 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $43,000. 79.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the transaction, the chief executive officer now owns 213,538 shares in the company, valued at $52,592,274.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the transaction, the insider now owns 40,072 shares in the company, valued at $9,868,130.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernest Scott Santi sold 235,656 shares of Illinois Tool Works stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total value of $58,039,716.24. Following the transaction, the chief executive officer now owns 213,538 shares of the company’s stock, valued at approximately $52,592,274.02. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $230.34 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.41. Illinois Tool Works Inc. has a fifty-two week low of $173.52 and a fifty-two week high of $253.37. The firm has a market cap of $70.27 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.52 and a beta of 1.10. The business’s 50 day moving average price is $233.98 and its 200-day moving average price is $217.47.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $1.95 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 9.53 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 53.58%.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of research reports. Citigroup raised their price objective on Illinois Tool Works from $232.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, February 3rd. Robert W. Baird lifted their price target on Illinois Tool Works from $222.00 to $255.00 in a research note on Thursday, February 2nd. UBS Group lifted their price target on Illinois Tool Works from $213.00 to $245.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. Finally, Morgan Stanley lifted their price target on Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $223.07.

Illinois Tool Works Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.