Daiwa Securities Group Inc. Grows Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Daiwa Securities Group Inc. lifted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 11.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,938 shares of the industrial products company's stock after purchasing an additional 3,903 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Illinois Tool Works were worth $9,680,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the 2nd quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at about $32,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its holdings in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after buying an additional 115 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.1 %

NYSE ITW traded up $0.14 during trading hours on Tuesday, reaching $276.51. 828,401 shares of the company's stock traded hands, compared to its average volume of 1,051,633. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.94. The firm has a market cap of $81.65 billion, a PE ratio of 23.91, a PEG ratio of 4.25 and a beta of 1.10. The firm has a 50-day simple moving average of $262.63 and a 200 day simple moving average of $250.02. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW - Get Free Report) last issued 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 net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the company posted $2.55 EPS. Illinois Tool Works's revenue was down 1.6% on a year-over-year basis. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.17%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

Analyst Ratings Changes

ITW has been the topic of several research analyst reports. 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. StockNews.com upgraded shares of Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Truist Financial lifted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI cut Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.