Renaissance Group LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 217,317 shares of the industrial products company’s stock after selling 12,410 shares during the quarter. Illinois Tool Works comprises approximately 1.2% of Renaissance Group LLC’s holdings, making the stock its 18th biggest holding. Renaissance Group LLC’s holdings in Illinois Tool Works were worth $36,259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Omnia Family Wealth LLC boosted its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the period. Laurel Wealth Advisors Inc. boosted its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock valued at $521,000 after purchasing an additional 10 shares during the period. Rowland & Co. Investment Counsel ADV raised its position in shares of Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock valued at $518,000 after buying an additional 13 shares in the last quarter. Salem Investment Counselors Inc. raised its position in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after buying an additional 17 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,195 shares of the industrial products company’s stock valued at $600,000 after buying an additional 20 shares in the last quarter. 74.61% of the stock is owned by hedge funds and other institutional investors.

In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total transaction of $4,992,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The disclosure for this sale can be found here. Insiders have sold a total of 113,468 shares of company stock worth $19,163,781 over the last three months. Insiders own 0.90% of the company’s stock.

Illinois Tool Works Inc. (NYSE:ITW) opened at $156.15 on Friday. The stock has a market cap of $55,994.38, a P/E ratio of 32.13, a P/E/G ratio of 2.10 and a beta of 1.18. Illinois Tool Works Inc. has a 12-month low of $127.15 and a 12-month high of $179.07. The company has a current ratio of 2.38, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts anticipate that Illinois Tool Works Inc. will post 7.71 earnings per share for the current year.

Several equities analysts have recently commented on ITW shares. Jefferies Group restated a “buy” rating and issued a $190.00 target price on shares of Illinois Tool Works in a research report on Wednesday, November 29th. Wells Fargo & Co set a $190.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, December 4th. Morgan Stanley boosted their target price on shares of Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Illinois Tool Works from $143.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $177.18.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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