Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 60.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,778 shares of the industrial products company's stock after selling 4,311 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in Illinois Tool Works were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ITW. Prudent Man Investment Management Inc. bought a new position in Illinois Tool Works in the 4th quarter valued at $25,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at $28,000. Millstone Evans Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $31,000. Atlantic Private Wealth LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $32,000. Finally, Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter valued at about $33,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group dropped their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research note on Monday. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Evercore ISI decreased their target price on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $264.09.

Insiders Place Their Bets

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Up 2.3 %

ITW traded up $5.18 during trading on Friday, hitting $231.99. The stock had a trading volume of 546,398 shares, compared to its average volume of 1,004,162. The stock has a 50 day simple moving average of $252.75 and a two-hundred day simple moving average of $259.13. The company has a market capitalization of $68.06 billion, a PE ratio of 19.76, a PEG ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

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.