Arrowstreet Capital Limited Partnership Sells 20,493 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,235,999 shares of the industrial products company's stock after selling 20,493 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.42% of Illinois Tool Works worth $313,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC increased its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Millstone Evans Group LLC bought a new position in Illinois Tool Works during the 4th quarter valued at about $31,000. Atlantic Private Wealth LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $32,000. Finally, Ulland Investment Advisors LLC acquired a new stake in Illinois Tool Works during the 4th quarter valued at $33,000. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 3.5 %

NYSE ITW traded down $8.79 on Thursday, reaching $243.64. The company had a trading volume of 553,497 shares, compared to its average volume of 979,009. The stock has a market cap of $71.48 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The stock's 50 day moving average is $257.87 and its 200-day moving average is $260.75. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last released 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 predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.19%.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of Illinois Tool Works 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 completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Finally, Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $268.30.

Illinois Tool Works Company 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.