Mariner LLC Sells 7,950 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mariner LLC lessened its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 311,484 shares of the industrial products company's stock after selling 7,950 shares during the period. Mariner LLC owned 0.11% of Illinois Tool Works worth $78,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Illinois Tool Works by 1.7% during the third quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after acquiring an additional 12,988 shares in the last quarter. Tudor Financial Inc. purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $759,000. World Investment Advisors LLC increased its position in shares of Illinois Tool Works by 6.7% during the third quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company's stock valued at $4,186,000 after buying an additional 1,000 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Illinois Tool Works by 128.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company's stock worth $6,084,000 after acquiring an additional 13,062 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Illinois Tool Works by 41.0% in 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 period. Institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.4 %

ITW traded up $0.88 on Friday, hitting $230.68. The company had a trading volume of 889,342 shares, compared to its average volume of 1,003,209. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works Inc. has a 52-week low of $214.66 and a 52-week high of $279.13. The firm has a market capitalization of $67.67 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.56 and a beta of 1.12. The stock has a fifty day simple moving average of $250.36 and a 200-day simple moving average of $258.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.60%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insider Activity at Illinois Tool Works

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's 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 sale, the chief executive officer now owns 55,113 shares in the company, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now directly owns 50,502 shares in the company, valued at $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. Insiders sold 159,925 shares of company stock valued at $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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 report on Wednesday, February 19th. UBS Group cut their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Citigroup reduced their target price on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday. Finally, StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $260.09.

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.