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

Mariner LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,484 shares of the industrial products company's stock after selling 7,950 shares during the quarter. Mariner LLC owned approximately 0.11% of Illinois Tool Works worth $78,986,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new stake in Illinois Tool Works during the fourth quarter worth about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after buying an additional 84 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction on Friday, March 7th. The stock was 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 of the company's stock, valued at approximately $15,120,802.68. This trade represents a 46.78 % decrease in their position. 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 on Friday, March 7th. The stock was 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 of the company's stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW traded up $0.88 during midday trading on Friday, reaching $230.68. 889,342 shares of the stock were exchanged, compared to its average volume of 999,503. The stock's 50 day simple moving average is $249.80 and its 200 day simple moving average is $257.86. The company has a market cap of $67.67 billion, a P/E ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month 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 posted its quarterly earnings data 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%. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $1.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.60%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Analysts Set New Price Targets

Several research firms have issued reports on ITW. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. UBS Group dropped their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Barclays reduced their price target on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Citigroup cut their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have given 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 currently has an average rating of "Hold" and a consensus price target of $260.09.

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.