509 Shares in Illinois Tool Works Inc. (NYSE:ITW) Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. acquired a new position in shares of Illinois Tool Works Inc. (NYSE:ITW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 509 shares of the industrial products company’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in Illinois Tool Works by 30.1% during the 4th quarter. Jones Financial Companies Lllp now owns 73,256 shares of the industrial products company’s stock worth $18,575,000 after acquiring an additional 16,930 shares in the last quarter. Modera Wealth Management LLC grew its holdings in Illinois Tool Works by 5.0% during the 4th quarter. Modera Wealth Management LLC now owns 5,643 shares of the industrial products company’s stock worth $1,431,000 after acquiring an additional 271 shares in the last quarter. Bailard Inc. grew its holdings in Illinois Tool Works by 0.4% during the 4th quarter. Bailard Inc. now owns 14,098 shares of the industrial products company’s stock worth $3,575,000 after acquiring an additional 57 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Illinois Tool Works by 22.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,899 shares of the industrial products company’s stock valued at $1,758,000 after buying an additional 1,269 shares in the last quarter. Finally, Nixon Peabody Trust Co. boosted its holdings in shares of Illinois Tool Works by 3.8% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,228 shares of the industrial products company’s stock valued at $818,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 3.7 %

Shares of Illinois Tool Works stock opened at $274.89 on Friday. The company has a market cap of $80.68 billion, a P/E ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13. 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 one year low of $232.77 and a one year high of $279.13. The firm has a fifty day moving average of $257.54 and a two-hundred day moving average of $259.94.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Insider Activity

In other Illinois Tool Works news, Director Ernest Scott Santi sold 70,000 shares of the firm’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 completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITW. Barclays lowered their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Evercore ISI lowered their target price 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. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target for the company in a research note on Wednesday, February 19th. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $269.30.

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.