Meiji Yasuda Asset Management Co Ltd. Boosts Position in Illinois Tool Works Inc. (NYSE:ITW)

Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,595 shares of the industrial products company’s stock after purchasing an additional 1,290 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Illinois Tool Works were worth $9,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its stake in shares of 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 during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $31,000. Atlantic Private Wealth LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $32,000. Finally, Ulland Investment Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $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 other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction 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. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 50,502 shares of the company’s stock, valued at $13,698,667.50. The trade was a 45.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 159,925 shares of company stock worth $42,973,845 over the last quarter. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $255.86 on Tuesday. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The firm has a market capitalization of $75.09 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 4.56 and a beta of 1.13. The company has a fifty day simple moving average of $258.60 and a two-hundred day simple moving average of $260.66. 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 (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. 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 2.35%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITW. Stifel Nicolaus reduced their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Evercore ISI decreased their target price on shares of 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. Barclays set a $260.00 price target on shares of Illinois Tool Works and gave the company an “equal weight” rating in a report on Monday, March 10th. Citigroup reduced their price objective 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. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two equities 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $269.10.

About Illinois Tool Works

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.