Nomura Asset Management Co. Ltd. Has $67.79 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.09% of Illinois Tool Works worth $67,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. 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 acquiring an additional 4,330 shares in the last quarter. Norges Bank bought a new position in Illinois Tool Works during the 4th quarter worth about $806,291,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Illinois Tool Works in the 4th 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 fourth 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 bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $866,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of ITW opened at $251.86 on Friday. The company’s 50-day moving average is $258.61 and its 200-day moving average is $260.64. 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 firm has a market capitalization of $73.92 billion, a PE ratio of 21.49, a PEG ratio of 4.56 and a beta of 1.13. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm 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 $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.38%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s 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 completion of the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,925 shares of company stock valued at $42,973,845 in the last quarter. Company insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ITW shares. JPMorgan Chase & Co. decreased their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup cut their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a report on Wednesday, February 19th. Finally, Barclays lowered their price target on Illinois Tool Works from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Wednesday. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $268.30.

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.