Public Employees Retirement System of Ohio Has $35.91 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Public Employees Retirement System of Ohio lessened its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,032 shares of the industrial products company’s stock after selling 985 shares during the period. Public Employees Retirement System of Ohio’s holdings in Illinois Tool Works were worth $35,912,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ITW. Nikulski Financial Inc. increased its stake in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after buying an additional 39 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp lifted its position in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares in the last quarter. Harbour Investments Inc. lifted its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in shares of Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 43 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup boosted their price target on Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $267.30.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $274.11 on Tuesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market capitalization of $80.94 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $279.13. The company’s 50-day moving average is $266.20 and its 200 day moving average is $251.93.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.55 EPS. Research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is presently 51.90%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.