New York State Common Retirement Fund Sells 24,600 Shares of Illinois Tool Works Inc. $ITW

New York State Common Retirement Fund lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,140 shares of the industrial products company’s stock after selling 24,600 shares during the quarter. New York State Common Retirement Fund’s holdings in Illinois Tool Works were worth $89,216,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ITW. Brendel Financial Advisors LLC grew its holdings in shares of Illinois Tool Works by 1,328.6% in the third quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock valued at $3,632,000 after acquiring an additional 12,954 shares in the last quarter. Davis Capital Management purchased a new position in Illinois Tool Works in the third quarter worth $1,162,000. Illinois Municipal Retirement Fund grew its stake in Illinois Tool Works by 39.5% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock valued at $16,674,000 after purchasing an additional 19,102 shares during the period. Level Four Advisory Services LLC increased its position in shares of Illinois Tool Works by 16.3% during the 2nd quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock valued at $2,888,000 after purchasing an additional 1,638 shares during the last quarter. Finally, Huntleigh Advisors Inc. raised its stake in shares of Illinois Tool Works by 111.2% during the 3rd quarter. Huntleigh Advisors Inc. now owns 16,276 shares of the industrial products company’s stock worth $4,244,000 after purchasing an additional 8,569 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total value of $373,025.25. Following the sale, the director directly owned 39,249 shares of the company’s stock, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $262.70 on Friday. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year 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. The firm has a market capitalization of $76.21 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 13.83 and a beta of 1.15. The firm’s 50 day simple moving average is $253.06 and its 200 day simple moving average is $254.92.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wolfe Research raised their price objective on shares of Illinois Tool Works from $264.00 to $278.00 and gave the stock an “underperform” rating in a report on Thursday, January 15th. Evercore ISI decreased their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Wells Fargo & Company upped their price objective on Illinois Tool Works from $245.00 to $250.00 and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Finally, Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and upped their price target for the company from $220.00 to $255.00 in a research report on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $261.08.

Illinois Tool Works Company 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.