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

Nomura Asset Management Co. Ltd. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 261,636 shares of the industrial products company's stock after acquiring an additional 23,082 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.09% of Illinois Tool Works worth $68,567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd grew its position in Illinois Tool Works by 35.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 8,786 shares of the industrial products company's stock worth $2,303,000 after acquiring an additional 2,312 shares in the last quarter. MML Investors Services LLC lifted its position in Illinois Tool Works by 3.3% in the third quarter. MML Investors Services LLC now owns 60,229 shares of the industrial products company's stock worth $15,784,000 after buying an additional 1,905 shares during the last quarter. Dean Investment Associates LLC purchased a new position in Illinois Tool Works during the third quarter worth $2,793,000. National Bank of Canada FI increased its position in Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Illinois Tool Works by 289.6% in the third quarter. Kovitz Investment Group Partners LLC now owns 30,201 shares of the industrial products company's stock valued at $7,915,000 after acquiring an additional 22,449 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ITW has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Barclays upgraded Illinois Tool Works from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $230.00 to $270.00 in a report on Thursday. Robert W. Baird raised their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $266.30.

Illinois Tool Works Trading Up 0.3 %

Shares of NYSE ITW traded up $0.87 during trading on Monday, reaching $274.40. The stock had a trading volume of 272,533 shares, compared to its average volume of 1,038,975. The business's 50-day moving average price is $265.95 and its 200-day moving average price is $251.70. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market cap of $81.03 billion, a P/E ratio of 23.66, a PEG ratio of 4.24 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company's revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.19%. Illinois Tool Works's dividend payout ratio (DPR) is 51.90%.

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.