Illinois Tool Works Inc. (NYSE:ITW) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 45.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 25,469 shares of the industrial products company’s stock after acquiring an additional 7,949 shares during the quarter. Mizuho Securities USA LLC’s holdings in Illinois Tool Works were worth $6,458,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC lifted its stake in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Illinois Tool Works during the 4th quarter valued at about $31,000. Atlantic Private Wealth LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $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 available through the SEC website. Also, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction that occurred 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 directly 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 worth $42,973,845 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Trading Down 0.9 %

NYSE:ITW opened at $251.05 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a market cap of $73.68 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.56 and a beta of 1.13. The stock has a 50-day simple moving average of $258.48 and a 200-day simple moving average of $260.46.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 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, analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ITW shares. Barclays set a $260.00 price objective on shares of Illinois Tool Works and gave the company an “equal weight” rating in a research note on Monday, March 10th. 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. 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. Finally, Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $269.10.

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.