Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,595 shares of the industrial products company's stock after buying an additional 1,290 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Illinois Tool Works were worth $9,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC lifted its position in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company's stock valued at $30,000 after buying an additional 106 shares during the last quarter. Millstone Evans Group LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $31,000. Atlantic Private Wealth LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.77% of the company's stock.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now owns 55,113 shares of the company's stock, valued at $15,120,802.68. This trade represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock valued at $42,973,845 over the last quarter. Company insiders own 1.26% of the company's stock.

Remove Ads

Illinois Tool Works Stock Down 2.2 %

Shares of NYSE ITW traded down $5.62 during midday trading on Friday, hitting $246.34. 939,536 shares of the company's stock were exchanged, compared to its average volume of 977,693. The firm's fifty day simple moving average is $258.40 and its 200-day simple moving average is $260.73. The company has a market cap of $72.30 billion, a PE ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results 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%. Research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. Illinois Tool Works's dividend payout ratio is presently 51.19%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITW. Jefferies Financial Group boosted their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a report on Friday, December 6th. Barclays reduced their price target on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Citigroup dropped their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $268.30.

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.