Renaissance Technologies LLC Sells 171,800 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Renaissance Technologies LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 91.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,500 shares of the industrial products company's stock after selling 171,800 shares during the period. Renaissance Technologies LLC's holdings in Illinois Tool Works were worth $3,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prudent Man Investment Management Inc. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $25,000. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $28,000. Millstone Evans Group LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth approximately $33,000. Institutional investors own 79.77% of the company's stock.

Insider Buying and Selling at Illinois Tool Works

In other news, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the business's 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 transaction, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last quarter. Company insiders own 0.88% of the company's stock.

Illinois Tool Works Stock Up 0.3 %

Shares of NYSE:ITW traded up $0.71 during trading on Monday, reaching $240.21. 972,735 shares of the company traded hands, compared to its average volume of 1,000,638. The firm has a fifty day simple moving average of $247.11 and a 200 day simple moving average of $257.01. The firm has a market cap of $70.47 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. Analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target 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 decreased their price target on shares of Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. UBS Group decreased 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. Citigroup decreased 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. Finally, Barclays lowered their price objective on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.