Norinchukin Bank The Sells 7,371 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Norinchukin Bank The trimmed its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 98,527 shares of the industrial products company's stock after selling 7,371 shares during the quarter. Norinchukin Bank The's holdings in Illinois Tool Works were worth $24,983,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ITW. Pensionfund Sabic raised its stake in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock valued at $1,876,000 after buying an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in 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 valued at $358,321,000 after acquiring an additional 398,676 shares during the period. Clark & Stuart Inc purchased a new position in Illinois Tool Works in the fourth quarter worth about $1,729,000. Czech National Bank grew its stake in shares of Illinois Tool Works by 5.9% during the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock valued at $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Illinois Tool Works by 31.6% during the 4th quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company's stock valued at $3,976,000 after purchasing an additional 3,765 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW traded up $4.66 during trading hours on Thursday, hitting $241.36. The company's stock had a trading volume of 463,742 shares, compared to its average volume of 999,085. The stock has a market cap of $70.81 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 4.56 and a beta of 1.12. The business's 50-day moving average price is $248.35 and its 200-day moving average price is $257.36. 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 Inc. has a 12 month low of $214.66 and a 12 month high of $279.13.

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

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a dividend of $1.50 per share. The ex-dividend date was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.49%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Analysts Set New Price Targets

ITW has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of 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. Evercore ISI lowered their price objective on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered 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 report on Monday, February 3rd. Finally, Barclays decreased 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 analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $260.09.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 50,502 shares of the company's stock, valued at $13,698,667.50. This represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,925 shares of company stock valued at $42,973,845. 0.88% of the stock is currently owned by company insiders.

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.