Two Sigma Investments LP Has $1.58 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Two Sigma Investments LP lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 23.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,214 shares of the industrial products company’s stock after buying an additional 1,180 shares during the period. Two Sigma Investments LP’s holdings in Illinois Tool Works were worth $1,576,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ITW. Brighton Jones LLC lifted its stake in Illinois Tool Works by 5.3% in the 4th quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock valued at $1,399,000 after purchasing an additional 277 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Illinois Tool Works by 6.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the industrial products company’s stock valued at $645,000 after purchasing an additional 164 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Illinois Tool Works by 7.6% in the 4th quarter. DAVENPORT & Co LLC now owns 28,627 shares of the industrial products company’s stock valued at $7,260,000 after purchasing an additional 2,022 shares during the last quarter. Spire Wealth Management lifted its stake in Illinois Tool Works by 196.3% in the 4th quarter. Spire Wealth Management now owns 7,371 shares of the industrial products company’s stock valued at $1,869,000 after purchasing an additional 4,883 shares during the last quarter. Finally, Trust Point Inc. lifted its stake in Illinois Tool Works by 6.2% in the 4th quarter. Trust Point Inc. now owns 2,339 shares of the industrial products company’s stock valued at $593,000 after purchasing an additional 136 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 1.1%

NYSE:ITW opened at $245.44 on Wednesday. The firm has a market cap of $71.91 billion, a P/E ratio of 20.94, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a 50-day simple moving average of $239.70 and a two-hundred day simple moving average of $253.56.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Illinois Tool Works’s revenue was down 3.4% compared to the same quarter last year. During the same period last year, the business earned $2.44 EPS. Analysts predict 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 declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.44%. Illinois Tool Works’s dividend payout ratio is presently 52.77%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ITW shares. Wall Street Zen downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on shares of 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. UBS Group cut their price objective on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Robert W. Baird raised their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus raised their price objective 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, May 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $253.42.

Insider Transactions at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $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. 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.