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

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,595 shares of the industrial products company’s stock after buying an additional 1,290 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Illinois Tool Works were worth $9,279,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Baron Wealth Management LLC lifted its position in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 39 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Illinois Tool Works by 1.2% during the fourth quarter. Harbour Investments Inc. now owns 3,696 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 44 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Illinois Tool Works by 3.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,569 shares of the industrial products company’s stock worth $398,000 after buying an additional 46 shares during the period. Valmark Advisers Inc. lifted its stake in Illinois Tool Works by 0.5% during the 4th quarter. Valmark Advisers Inc. now owns 9,240 shares of the industrial products company’s stock valued at $2,343,000 after acquiring an additional 47 shares during the period. Finally, Lyell Wealth Management LP boosted its holdings in Illinois Tool Works by 4.9% in the fourth quarter. Lyell Wealth Management LP now owns 1,002 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 47 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,925 shares of company stock valued at $42,973,845. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ITW shares. Truist Financial lifted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research report on Wednesday, February 19th. Barclays set a $260.00 target price on shares of Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday, March 10th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Evercore ISI cut their price objective on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average target price of $269.10.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $255.86 on Tuesday. The company has a fifty day simple moving average of $258.60 and a 200-day simple moving average of $260.66. The firm has a market capitalization of $75.09 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 4.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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%. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. Illinois Tool Works’s payout ratio is 51.19%.

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.