Nomura Asset Management Co. Ltd. Buys 5,706 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Nomura Asset Management Co. Ltd. increased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 267,342 shares of the industrial products company’s stock after buying an additional 5,706 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Illinois Tool Works were worth $67,787,000 at the end of the most recent reporting period.

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

Illinois Tool Works Stock Performance

NYSE:ITW opened at $251.86 on Friday. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. 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 stock has a market cap of $73.92 billion, a P/E ratio of 21.49, a PEG ratio of 4.56 and a beta of 1.13. The business’s 50-day moving average price is $258.61 and its two-hundred day moving average price is $260.64.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.38%. Illinois Tool Works’s payout ratio is 51.19%.

Wall Street Analyst Weigh In

ITW has been the subject of a number of analyst reports. Citigroup cut their price target on 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. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a report on Wednesday, February 19th. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI lowered their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus dropped their target price on 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $268.30.

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 of the company’s stock, valued at approximately $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the 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 directly owns 50,502 shares in the company, 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. In the last three months, insiders sold 159,925 shares of company stock worth $42,973,845. 1.26% of the stock is currently owned by corporate insiders.

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.