California State Teachers Retirement System reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 523,428 shares of the industrial products company’s stock after selling 43,246 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Illinois Tool Works worth $77,446,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Illinois Tool Works by 2.3% in the second quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock worth $3,241,417,000 after acquiring an additional 500,583 shares during the period. BlackRock Inc. boosted its holdings in shares of Illinois Tool Works by 5.8% in the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock worth $2,927,540,000 after acquiring an additional 1,118,381 shares during the period. FMR LLC boosted its holdings in shares of Illinois Tool Works by 13.7% in the second quarter. FMR LLC now owns 3,920,539 shares of the industrial products company’s stock worth $561,618,000 after acquiring an additional 471,369 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Illinois Tool Works by 2,939.8% in the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after acquiring an additional 3,628,722 shares during the period. Finally, Janus Capital Management LLC boosted its holdings in shares of Illinois Tool Works by 19.5% in the first quarter. Janus Capital Management LLC now owns 2,951,426 shares of the industrial products company’s stock worth $390,967,000 after acquiring an additional 482,027 shares during the period. 74.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works Inc. (ITW) opened at $163.82 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works Inc. has a 52 week low of $120.06 and a 52 week high of $169.69. The stock has a market capitalization of $56,145.13, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. sell-side analysts forecast that Illinois Tool Works Inc. will post 6.7 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.

In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of Illinois Tool Works stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,324 shares of company stock valued at $35,645,914. Corporate insiders own 0.90% of the company’s stock.

ITW has been the subject of several research analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $147.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, August 16th. J P Morgan Chase & Co lowered Illinois Tool Works from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $141.00 to $132.00 in a research note on Thursday, August 17th. Robert W. Baird set a $145.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $143.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $164.38.

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Illinois Tool Works Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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

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