Claro Advisors LLC Boosts Stake in Illinois Tool Works Inc. (NYSE:ITW)

Claro Advisors LLC lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,948 shares of the industrial products company’s stock after acquiring an additional 545 shares during the period. Claro Advisors LLC’s holdings in Illinois Tool Works were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ITW. International Assets Investment Management LLC boosted its holdings in Illinois Tool Works by 26,088.4% in the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after buying an additional 322,192 shares during the period. AXA S.A. boosted its holdings in Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the period. Guinness Asset Management LTD boosted its holdings in Illinois Tool Works by 30.7% in the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after buying an additional 180,458 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Illinois Tool Works by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after buying an additional 133,853 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Illinois Tool Works by 75.1% in the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock worth $61,136,000 after buying an additional 110,673 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.3 %

Shares of NYSE ITW opened at $270.62 on Monday. The firm’s 50-day moving average price is $260.09 and its 200-day moving average price is $248.98. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $79.91 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $2.55 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.90%.

Analyst Ratings Changes

Several research analysts recently weighed in on ITW shares. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Truist Financial increased their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Company 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.