Mizuho Securities USA LLC Raises Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Mizuho Securities USA LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 45.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,469 shares of the industrial products company's stock after buying an additional 7,949 shares during the quarter. Mizuho Securities USA LLC's holdings in Illinois Tool Works were worth $6,458,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sciencast Management LP acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $2,402,000. Millstone Evans Group LLC acquired a new stake in Illinois Tool Works during the fourth quarter valued at $31,000. TD Private Client Wealth LLC boosted its stake in shares of Illinois Tool Works by 2.1% during the 4th quarter. TD Private Client Wealth LLC now owns 5,815 shares of the industrial products company's stock worth $1,474,000 after acquiring an additional 120 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter valued at about $95,000. Finally, Ballast Advisors LLC increased its stake in shares of Illinois Tool Works by 9.8% in the 4th quarter. Ballast Advisors LLC now owns 4,076 shares of the industrial products company's stock valued at $1,034,000 after purchasing an additional 364 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ITW shares. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price objective for the company in a research report on Wednesday, February 19th. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Barclays reduced their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and an average price target of $268.30.

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Illinois Tool Works Price Performance

Shares of NYSE:ITW traded down $4.03 during midday trading on Thursday, hitting $251.86. The company had a trading volume of 1,491,810 shares, compared to its average volume of 933,009. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market cap of $73.92 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. 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 business's 50-day simple moving average is $258.68 and its 200-day simple moving average is $260.70.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Insiders Place Their Bets

In related news, CFO Michael M. Larsen sold 41,472 shares of the firm's stock in a transaction dated 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 directly owns 50,502 shares of the company's stock, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % 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 quarter. 1.26% of the stock is owned by 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.