Nomura Asset Management Co. Ltd. Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Nomura Asset Management Co. Ltd. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,342 shares of the industrial products company's stock after purchasing an additional 5,706 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.09% of Illinois Tool Works worth $67,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. New Age Alpha Advisors LLC increased its position in shares of Illinois Tool Works by 5,481.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 4,409 shares of the industrial products company's stock worth $1,118,000 after buying an additional 4,330 shares during the period. Norges Bank acquired a new stake in Illinois Tool Works in the fourth quarter worth $806,291,000. Caisse Des Depots ET Consignations acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $1,172,000. Blair William & Co. IL boosted its position in shares of Illinois Tool Works by 1.1% during the 4th quarter. Blair William & Co. IL now owns 426,768 shares of the industrial products company's stock worth $108,211,000 after purchasing an additional 4,671 shares in the last quarter. Finally, LM Advisors LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $866,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ITW. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock 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 for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price target 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illinois Tool Works has a consensus rating of "Hold" and a consensus price target of $268.30.

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Illinois Tool Works Stock Performance

Illinois Tool Works stock traded up $0.86 during mid-day trading on Tuesday, reaching $248.87. 301,940 shares of the company's stock were exchanged, compared to its average volume of 1,070,916. The business's fifty day simple moving average is $258.24 and its 200 day simple moving average is $260.83. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The firm has a market capitalization of $73.01 billion, a PE ratio of 21.23, a P/E/G ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Monday, March 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.19%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 50,502 shares of the company's stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,925 shares of company stock worth $42,973,845. 0.88% of the stock is owned by corporate insiders.

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.