Rockefeller Capital Management L.P. Decreases Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Rockefeller Capital Management L.P. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,770 shares of the industrial products company's stock after selling 1,477 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Illinois Tool Works were worth $22,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Pensionfund Sabic lifted its holdings in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc bought a new position in shares of Illinois Tool Works during the 4th quarter valued at about $1,729,000. Czech National Bank raised its holdings 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 buying an additional 3,227 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Illinois Tool Works by 31.6% in the fourth quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company's stock worth $3,976,000 after buying an additional 3,765 shares in the last quarter. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value 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 represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm'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 sale, the chief financial officer now owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This represents 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 valued at $42,973,845 in the last three months. Company insiders own 0.88% of the company's stock.

Wall Street Analysts Forecast Growth

ITW has been the topic of several recent research reports. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Citigroup decreased their price objective on Illinois Tool Works from $265.00 to $253.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 target price for the company in a report on Wednesday, February 19th. Barclays decreased their price target on Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Stifel Nicolaus dropped their price objective on Illinois Tool Works from $259.00 to $227.00 and set a "hold" rating for the company in a research note on Monday, April 14th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $260.09.

Illinois Tool Works Trading Up 0.4 %

Shares of NYSE:ITW traded up $0.88 on Friday, hitting $230.68. The company had a trading volume of 889,342 shares, compared to its average volume of 1,003,979. The firm's 50-day simple moving average is $249.80 and its two-hundred day simple moving average is $257.91. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $67.67 billion, a price-to-earnings ratio of 19.68, a P/E/G 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.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) 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%. Equities 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 firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $1.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.60%. Illinois Tool Works's payout ratio is 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.