Two Sigma Securities LLC Sells 3,741 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Two Sigma Securities LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 63.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,119 shares of the industrial products company's stock after selling 3,741 shares during the period. Two Sigma Securities LLC's holdings in Illinois Tool Works were worth $537,000 as of its most recent SEC filing.

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

Illinois Tool Works Stock Up 1.2 %

Shares of NYSE:ITW traded up $2.95 during midday trading on Friday, reaching $242.19. The company had a trading volume of 654,959 shares, compared to its average volume of 1,006,019. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The stock has a market capitalization of $71.05 billion, a P/E ratio of 20.64, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The stock's fifty day moving average price is $245.71 and its 200-day moving average price is $256.63.

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

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ITW shares. Evercore ISI decreased their price target on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 19th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a research report on Thursday. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective on the stock in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus price target of $256.73.

Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on 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 directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale 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 stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the sale, the chief executive officer now owns 55,113 shares in the company, valued at $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 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.