State of New Jersey Common Pension Fund D Has $27.09 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

State of New Jersey Common Pension Fund D cut its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,840 shares of the industrial products company’s stock after selling 91 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Illinois Tool Works were worth $27,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Americana Partners LLC grew its holdings in shares of Illinois Tool Works by 7.4% during the 4th quarter. Americana Partners LLC now owns 1,940 shares of the industrial products company’s stock valued at $492,000 after purchasing an additional 133 shares during the last quarter. Strategic Advisors LLC grew its holdings in shares of Illinois Tool Works by 7.2% during the 4th quarter. Strategic Advisors LLC now owns 1,296 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 87 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after purchasing an additional 47 shares during the last quarter. MOKAN Wealth Management Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $1,096,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at approximately $2,710,000. 79.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITW has been the topic of a number of research reports. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays reduced their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Trading Down 0.8 %

NYSE:ITW opened at $257.98 on Monday. The firm’s fifty day moving average is $258.13 and its 200-day moving average is $257.71. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market cap of $76.18 billion, a P/E ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities analysts expect that Illinois Tool Works Inc. will post 10.38 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s payout ratio is presently 51.19%.

Illinois Tool Works 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.