Illinois Tool Works Inc. (NYSE:ITW) Stock Holdings Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,510 shares of the industrial products company’s stock after purchasing an additional 1,441 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Illinois Tool Works were worth $6,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at approximately $26,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $28,000. Briaud Financial Planning Inc bought a new stake in Illinois Tool Works in the third quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Illinois Tool Works in the fourth quarter worth approximately $29,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $29,000. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Stifel Nicolaus upped their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the company from $260.00 to $235.00 in a research note on Wednesday, January 10th. Finally, Truist Financial initiated coverage on shares of Illinois Tool Works in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Four research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.00.

Illinois Tool Works Trading Down 0.3 %

Shares of Illinois Tool Works stock opened at $248.83 on Friday. The stock has a market capitalization of $74.34 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The company has a 50-day simple moving average of $260.64 and a 200 day simple moving average of $250.65. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Research analysts expect that Illinois Tool Works Inc. will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Insider Buying and Selling

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock worth $48,712,316 in the last quarter. 0.88% of the stock is owned by corporate insiders.

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.