Mizuho Securities USA LLC Sells 3,416 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Mizuho Securities USA LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 16.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake 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 valued at $847,610,000 after buying an additional 322,192 shares in the last quarter. AXA S.A. boosted its holdings in shares of Illinois Tool Works by 242.3% during the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after buying an additional 241,618 shares in the last quarter. Guinness Asset Management LTD boosted its stake 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 purchasing an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after buying an additional 133,853 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Illinois Tool Works by 75.1% in the second quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company’s stock valued at $61,136,000 after acquiring an additional 110,673 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 1.3 %

NYSE:ITW opened at $269.90 on Friday. 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 $79.70 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 4.13 and a beta of 1.10. The stock’s fifty day moving average is $261.76 and its two-hundred day moving average is $249.60. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $277.58.

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

Illinois Tool Works Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ITW. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lifted their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.