Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,520 shares of the industrial products company’s stock after selling 3,416 shares during the period. Mizuho Securities USA LLC’s holdings in Illinois Tool Works were worth $4,591,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of Illinois Tool Works by 2.4% in the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after purchasing an additional 62,645 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $361,998,000 after purchasing an additional 133,853 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Illinois Tool Works by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,247,066 shares of the industrial products company’s stock worth $326,819,000 after acquiring an additional 9,563 shares during the last quarter. Guinness Asset Management LTD lifted its position in Illinois Tool Works by 4.6% during the third quarter. Guinness Asset Management LTD now owns 802,886 shares of the industrial products company’s stock valued at $210,447,000 after buying an additional 35,145 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Illinois Tool Works by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 742,941 shares of the industrial products company’s stock valued at $176,047,000 after acquiring an additional 50,753 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $269.90 on Friday. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $277.58. The firm has a market capitalization of $79.70 billion, a P/E ratio of 23.35, a PEG ratio of 4.13 and a beta of 1.10. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a fifty day moving average of $261.76 and a 200-day moving average of $249.60.

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

Illinois Tool Works Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ITW shares. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Truist Financial raised their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Barclays upped their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus target price of $257.30.

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.