Mizuho Markets Americas LLC Sells 1,220 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mizuho Markets Americas LLC lowered its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,569 shares of the industrial products company’s stock after selling 1,220 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Illinois Tool Works were worth $6,177,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PEAK6 Investments LLC increased its holdings in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after purchasing an additional 9,825 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works during the third quarter worth approximately $1,179,000. BDF Gestion acquired a new stake in Illinois Tool Works during the 2nd quarter worth $1,727,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Illinois Tool Works by 7.8% in the 2nd quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock valued at $41,686,000 after purchasing an additional 12,804 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ITW. Robert W. Baird boosted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial lifted their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Price Performance

Shares of ITW opened at $270.62 on Friday. The company has a 50 day moving average of $260.09 and a 200-day moving average of $248.90. 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 market capitalization of $79.91 billion, a P/E ratio of 23.41, a P/E/G ratio of 4.23 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

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.