Mizuho Markets Americas LLC Has $6.18 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Mizuho Markets Americas LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,569 shares of the industrial products company’s stock after selling 1,220 shares during the period. Mizuho Markets Americas LLC’s holdings in Illinois Tool Works were worth $6,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Banco Santander S.A. bought a new position in shares of Illinois Tool Works during the 1st quarter worth approximately $483,000. First Foundation Advisors boosted its position in Illinois Tool Works by 167.0% during the first quarter. First Foundation Advisors now owns 494 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 309 shares during the period. Nicolet Advisory Services LLC increased its holdings in shares of Illinois Tool Works by 5.6% in the first quarter. Nicolet Advisory Services LLC now owns 1,060 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 56 shares during the last quarter. Spirepoint Private Client LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at about $299,000. Finally, TIAA Trust National Association lifted its stake in shares of Illinois Tool Works by 4.9% during the 1st quarter. TIAA Trust National Association now owns 22,714 shares of the industrial products company’s stock worth $6,095,000 after buying an additional 1,067 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $270.62 on Friday. The firm has a 50 day moving average of $260.09 and a 200-day moving average of $248.90. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $277.58. 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 PE ratio of 23.41, a PEG ratio of 4.23 and a beta of 1.10.

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, topping the consensus estimate 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 firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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 issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend 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 (DPR) is 51.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITW shares. Truist Financial upped their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird lifted their target price on 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 upped their price target on shares of 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, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and an average price target of $257.30.

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.