Two Sigma Investments LP Has $1.58 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Two Sigma Investments LP boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,214 shares of the industrial products company's stock after buying an additional 1,180 shares during the period. Two Sigma Investments LP's holdings in Illinois Tool Works were worth $1,576,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC boosted its stake in shares of Illinois Tool Works by 42.2% in the 4th quarter. EP Wealth Advisors LLC now owns 5,718 shares of the industrial products company's stock valued at $1,450,000 after purchasing an additional 1,698 shares in the last quarter. MOKAN Wealth Management Inc. acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $1,096,000. Sovran Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $398,000. Roxbury Financial LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $615,000. Finally, Empower Advisory Group LLC boosted its stake in shares of Illinois Tool Works by 3.2% in the 4th quarter. Empower Advisory Group LLC now owns 346,144 shares of the industrial products company's stock valued at $87,768,000 after purchasing an additional 10,739 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Trading Down 0.2%

NYSE:ITW traded down $0.58 on Thursday, hitting $245.93. 1,090,894 shares of the stock were exchanged, compared to its average volume of 1,010,706. The stock has a market capitalization of $72.06 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 4.56 and a beta of 1.10. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The company's 50-day moving average price is $239.71 and its 200 day moving average price is $253.52.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.83 billion. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 EPS. On average, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. Illinois Tool Works's dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the transaction, the director now owns 122,884 shares of the company's stock, valued at $29,634,705.44. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the business'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 completion of the transaction, the chief executive officer now owns 55,113 shares of the company's stock, valued at $15,120,802.68. This represents a 46.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. Barclays reduced their target price on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Citigroup reduced their price target on shares of Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Evercore ISI reduced their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday, May 19th. Finally, UBS Group reduced their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Three 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 company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $253.42.

Illinois Tool Works 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.