Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,500 shares of the industrial products company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Illinois Tool Works were worth $3,677,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pensionfund Sabic boosted its holdings in shares of Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new position in Illinois Tool Works in the fourth quarter valued at $1,729,000. Czech National Bank boosted its holdings in Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after acquiring an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Illinois Tool Works in the third quarter valued at $1,179,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Trading Down 1.0 %

Shares of ITW opened at $256.12 on Thursday. The stock’s 50-day moving average is $259.14 and its two-hundred day moving average is $257.58. The stock has a market cap of $75.63 billion, a PE ratio of 21.85, a P/E/G ratio of 4.79 and a beta of 1.11. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97.

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

About Illinois Tool Works

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.