Prudential Financial Inc. Sells 25,611 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Prudential Financial Inc. lessened its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 15.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 144,102 shares of the industrial products company's stock after selling 25,611 shares during the period. Prudential Financial Inc.'s holdings in Illinois Tool Works were worth $36,539,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter worth about $28,000. True Wealth Design LLC lifted its position in shares of Illinois Tool Works by 1,060.0% during the third 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 acquired a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $32,000. Finally, Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth approximately $33,000. Institutional investors own 79.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of "Hold" and an average price target of $268.30.

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Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works 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 sale, the director now directly owns 260,224 shares of the company's stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % 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 business's stock in a transaction that occurred on Friday, March 7th. The stock was 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 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 a total of 159,925 shares of company stock worth $42,973,845 in the last three months. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

NYSE ITW traded down $5.62 on Friday, hitting $246.34. 939,536 shares of the company's stock were exchanged, compared to its average volume of 977,693. The stock has a 50-day moving average of $258.40 and a 200-day moving average of $260.83. The stock has a market cap of $72.27 billion, a price-to-earnings ratio of 21.02, a P/E/G 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 company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data 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%. Analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 2.44%. The ex-dividend date of this dividend is 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.