Mufg Securities Americas Inc. Acquires Shares of 3,967 Illinois Tool Works Inc. (NYSE:ITW)

Mufg Securities Americas Inc. acquired a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,967 shares of the industrial products company's stock, valued at approximately $1,006,000.

Other large investors have also added to or reduced their stakes in the company. Man Group plc raised its stake in shares of Illinois Tool Works by 45.1% in the fourth quarter. Man Group plc now owns 35,376 shares of the industrial products company's stock worth $8,970,000 after purchasing an additional 10,999 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of Illinois Tool Works by 44.4% in the fourth quarter. NorthRock Partners LLC now owns 12,252 shares of the industrial products company's stock worth $3,107,000 after purchasing an additional 3,766 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Illinois Tool Works by 1.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,103 shares of the industrial products company's stock worth $13,718,000 after purchasing an additional 662 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Illinois Tool Works by 82.7% in the fourth quarter. Lazard Asset Management LLC now owns 2,339 shares of the industrial products company's stock worth $593,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Laurion Capital Management LP raised its stake in shares of Illinois Tool Works by 57.0% in the fourth quarter. Laurion Capital Management LP now owns 14,428 shares of the industrial products company's stock worth $3,658,000 after purchasing an additional 5,236 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $3.36 during mid-day trading on Friday, hitting $251.33. 1,179,486 shares of the company traded hands, compared to its average volume of 1,022,307. The stock's fifty day moving average price is $241.76 and its 200-day moving average price is $255.58. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $279.13. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $73.64 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 4.56 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. Illinois Tool Works's revenue for the quarter was down 3.4% on a year-over-year basis. Research 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.39%. Illinois Tool Works's payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several recent analyst reports. Evercore ISI decreased their price target 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. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Bank of America lowered Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price objective for the company. in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Truist Financial cut their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $253.67.

Insider Activity

In related news, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Scott Santi sold 70,000 shares of the business'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 owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.88% of the company's stock.

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.