Public Employees Retirement Association of Colorado cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 595,511 shares of the company’s stock after selling 4,511 shares during the period. Public Employees Retirement Association of Colorado owned about 0.17% of Illinois Tool Works worth $62,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acropolis Investment Management LLC purchased a new position in Illinois Tool Works during the second quarter worth about $128,000. Washington Trust Bank boosted its position in Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock worth $145,000 after buying an additional 25 shares during the period. Quadrant Capital Group LLC boosted its position in Illinois Tool Works by 4.2% in the second quarter. Quadrant Capital Group LLC now owns 1,505 shares of the company’s stock worth $151,000 after buying an additional 60 shares during the period. Eqis Capital Management Inc. purchased a new position in Illinois Tool Works during the second quarter worth about $206,000. Finally, Oakworth Capital Inc. boosted its position in Illinois Tool Works by 6.9% in the second quarter. Oakworth Capital Inc. now owns 1,994 shares of the company’s stock worth $212,000 after buying an additional 129 shares during the period. Institutional investors own 74.90% of the company’s stock.

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

Shares of Illinois Tool Works Inc. (NYSE:ITW) traded down 0.70% during trading on Monday, hitting $116.38. 1,194,726 shares of the stock traded hands. The firm has a 50-day moving average of $118.80 and a 200-day moving average of $110.28. The firm has a market capitalization of $41.31 billion, a price-to-earnings ratio of 21.67 and a beta of 1.11. Illinois Tool Works Inc. has a 1-year low of $79.15 and a 1-year high of $123.50.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. On average, equities analysts forecast that Illinois Tool Works Inc. will post $5.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Friday, September 30th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.22%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 48.42%.

Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Monday, July 11th. Deutsche Bank AG boosted their price objective on shares of Illinois Tool Works from $119.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 21st. Robert W. Baird cut shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research report on Thursday, June 23rd. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $104.00 price objective (up previously from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $108.43.

In other news, Vice Chairman David C. Parry sold 40,000 shares of Illinois Tool Works stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $118.49, for a total transaction of $4,739,600.00. Following the completion of the transaction, the insider now directly owns 40,584 shares in the company, valued at $4,808,798.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $501,600.00. Following the transaction, the executive vice president now owns 24,777 shares of the company’s stock, valued at $2,725,470. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

5 Day Chart for NYSE:ITW

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