Rakuten Securities Inc. Acquires New Shares in Illinois Tool Works Inc. (NYSE:ITW)

Rakuten Securities Inc. purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 111 shares of the industrial products company’s stock, valued at approximately $29,000.

Other large investors have also recently bought and sold shares of the company. Rockline Wealth Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $4,180,000. Wesbanco Bank Inc. boosted its holdings in Illinois Tool Works by 23.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock valued at $1,401,000 after purchasing an additional 1,152 shares during the period. Ziegler Capital Management LLC bought a new position in Illinois Tool Works in the 4th quarter valued at $224,000. DNB Asset Management AS lifted its holdings in shares of Illinois Tool Works by 8.0% during the 4th quarter. DNB Asset Management AS now owns 135,552 shares of the industrial products company’s stock worth $35,506,000 after acquiring an additional 10,062 shares during the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $2,972,000. 79.77% of the stock is owned by institutional investors.

Insider Activity at Illinois Tool Works

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,321,252.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last 90 days. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Price Performance

ITW stock opened at $248.83 on Friday. The firm’s 50-day moving average price is $260.64 and its two-hundred day moving average price is $250.65. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The stock has a market capitalization of $74.34 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.67 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $2.34 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts predict that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio is currently 57.49%.

Analyst Ratings Changes

ITW has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays lifted their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a report on Tuesday, April 2nd. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $277.00 to $240.00 in a research report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $257.00.

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.