Retirement Systems of Alabama increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,374 shares of the industrial products company’s stock after purchasing an additional 19,080 shares during the period. Retirement Systems of Alabama’s holdings in Illinois Tool Works were worth $47,281,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Illinois Tool Works by 2.3% during 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 in the last quarter. BlackRock Inc. lifted its holdings in Illinois Tool Works by 5.8% during 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 in the last quarter. Janus Henderson Group PLC lifted its holdings in Illinois Tool Works by 5.7% during the third quarter. Janus Henderson Group PLC now owns 3,964,715 shares of the industrial products company’s stock worth $586,616,000 after acquiring an additional 212,560 shares in the last quarter. FMR LLC lifted its holdings in Illinois Tool Works by 13.7% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Illinois Tool Works by 0.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,884,317 shares of the industrial products company’s stock worth $269,929,000 after acquiring an additional 12,913 shares in the last quarter. 74.63% of the stock is owned by institutional investors and hedge funds.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at $161.85 on Wednesday. The company has a market capitalization of $55,302.33, a PE ratio of 24.42, a PEG ratio of 2.07 and a beta of 1.18. Illinois Tool Works Inc. has a twelve month low of $128.03 and a twelve month high of $179.07. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 earnings per share. sell-side analysts anticipate that Illinois Tool Works Inc. will post 7.71 EPS for the current year.

Several research analysts have weighed in on ITW shares. Wells Fargo & Co set a $190.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. Argus reiterated a “buy” rating and set a $180.00 target price (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Jefferies Group reiterated a “buy” rating and set a $190.00 target price on shares of Illinois Tool Works in a report on Wednesday, November 29th. Bank of America started coverage on Illinois Tool Works in a report on Monday, December 11th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $177.18.

In other news, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the sale, the insider now owns 42,497 shares in the company, valued at $7,564,466. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,468 shares of company stock worth $19,163,781. Corporate insiders own 0.90% of the company’s stock.

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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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