Daiwa Securities Group Inc. Has $9.94 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Daiwa Securities Group Inc. lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,198 shares of the industrial products company's stock after purchasing an additional 2,260 shares during the period. Daiwa Securities Group Inc.'s holdings in Illinois Tool Works were worth $9,939,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pensionfund Sabic lifted its holdings in 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 buying an additional 2,000 shares during the period. Franklin Resources Inc. lifted its stake in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. Clark & Stuart Inc bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank increased its position in 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 purchasing an additional 3,227 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Illinois Tool Works during the 3rd quarter worth approximately $1,179,000. Institutional investors own 79.77% of the company's stock.

Insider Transactions at Illinois Tool Works

In other news, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the 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 completion of 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 position. 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 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $255.05 on Wednesday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock's 50 day moving average is $257.83 and its 200-day moving average is $260.36. 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 $74.86 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 4.56 and a beta of 1.13.

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Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Sell-side analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is currently 51.19%.

Analyst Ratings Changes

ITW has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Barclays set a $260.00 price target on Illinois Tool Works and gave the company an "equal weight" rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $269.10.

Illinois Tool Works Company 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.

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