Kentucky Retirement Systems Has $3.98 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Kentucky Retirement Systems increased its position in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,055 shares of the industrial products company’s stock after purchasing an additional 1,020 shares during the quarter. Kentucky Retirement Systems’ holdings in Illinois Tool Works were worth $3,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC acquired a new stake in Illinois Tool Works in the third quarter worth about $26,000. CNB Bank boosted its holdings in Illinois Tool Works by 723.1% during the second quarter. CNB Bank now owns 214 shares of the industrial products company’s stock worth $39,000 after buying an additional 188 shares during the last quarter. Standard Family Office LLC bought a new position in Illinois Tool Works during the third quarter worth about $39,000. Old North State Trust LLC bought a new position in Illinois Tool Works during the third quarter worth about $42,000. Finally, JFS Wealth Advisors LLC boosted its holdings in Illinois Tool Works by 51.0% during the third quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock worth $43,000 after buying an additional 80 shares during the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ITW has been the topic of a number of recent analyst reports. Vertical Research cut Illinois Tool Works from a “buy” rating to a “hold” rating and reduced their target price for the stock from $240.00 to $220.00 in a report on Tuesday, January 3rd. Robert W. Baird lifted their price objective on Illinois Tool Works from $222.00 to $255.00 in a report on Thursday, February 2nd. Citigroup lifted 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. UBS Group lifted their price objective on Illinois Tool Works from $213.00 to $245.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Illinois Tool Works from $170.00 to $183.00 in a report on Friday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $223.07.

Insiders Place Their Bets

In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was 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 directly owns 213,538 shares in the company, valued at $52,592,274.02. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Illinois Tool Works Trading Up 1.7 %

NYSE ITW opened at $234.14 on Wednesday. The stock has a market capitalization of $71.43 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 3.52 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $173.52 and a 52 week high of $253.37. The stock’s 50 day moving average price is $233.60 and its two-hundred day moving average price is $217.30. 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 (NYSE:ITW – Get Rating) last posted 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). The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.95 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 9.53 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, March 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 53.58%.

Illinois Tool Works Company 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.