State of Wisconsin Investment Board Grows Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

State of Wisconsin Investment Board raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,164 shares of the industrial products company’s stock after buying an additional 20,667 shares during the period. State of Wisconsin Investment Board owned about 0.10% of Illinois Tool Works worth $45,810,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc increased its position in shares of Illinois Tool Works by 1.3% during the third quarter. Vanguard Group Inc now owns 25,617,374 shares of the industrial products company’s stock worth $3,615,123,000 after purchasing an additional 317,172 shares in the last quarter. Northern Trust Corp increased its position in shares of Illinois Tool Works by 2.2% during the fourth quarter. Northern Trust Corp now owns 14,161,839 shares of the industrial products company’s stock worth $1,794,164,000 after purchasing an additional 309,895 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Illinois Tool Works by 12,441.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042,210 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 9,962,137 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Illinois Tool Works by 27.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock worth $1,117,426,000 after purchasing an additional 1,907,471 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 3,925,119 shares of the industrial products company’s stock worth $496,400,000 after purchasing an additional 227,625 shares in the last quarter. 77.45% of the stock is owned by institutional investors.

Shares of ITW stock traded up $1.73 during mid-day trading on Friday, hitting $150.81. 1,616,038 shares of the stock were exchanged, compared to its average volume of 1,366,669. Illinois Tool Works Inc. has a 52-week low of $117.75 and a 52-week high of $158.69. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.19 and a current ratio of 1.53. The stock’s fifty day moving average price is $148.65. The company has a market capitalization of $48.85 billion, a P/E ratio of 19.84, a PEG ratio of 2.46 and a beta of 1.24.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.01. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. Illinois Tool Works’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 7.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

A number of brokerages have recently weighed in on ITW. Northcoast Research lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price objective on the stock. in a report on Wednesday. UBS Group boosted their price objective on shares of Illinois Tool Works from $137.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Citigroup set a $161.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a report on Friday, April 26th. Morgan Stanley set a $134.00 price target on shares of Illinois Tool Works and gave the company a “sell” rating in a report on Friday, April 26th. Finally, Argus upped their price target on shares of Illinois Tool Works from $145.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $140.41.

In other news, EVP John R. Hartnett sold 14,323 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the completion of the sale, the executive vice president now owns 31,695 shares in the company, valued at approximately $4,866,767.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Randall J. Scheuneman sold 14,931 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $150.17, for a total transaction of $2,242,188.27. Following the transaction, the vice president now directly owns 21,603 shares of the company’s stock, valued at approximately $3,244,122.51. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

Illinois Tool Works 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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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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