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

Mizuho Securities USA LLC trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 16.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,520 shares of the industrial products company's stock after selling 3,416 shares during the quarter. Mizuho Securities USA LLC's holdings in Illinois Tool Works were worth $4,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nikulski Financial Inc. raised its holdings in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock valued at $290,000 after buying an additional 39 shares during the last quarter. Steele Capital Management Inc. raised its stake in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock worth $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp grew its stake in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock valued at $957,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

ITW traded up $4.09 during trading on Friday, reaching $273.94. 948,852 shares of the stock were exchanged, compared to its average volume of 1,051,123. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market capitalization of $80.89 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 4.13 and a beta of 1.10. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $277.58. The business's 50 day moving average price is $262.20 and its two-hundred day moving average price is $249.80.

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

Illinois Tool Works Announces Dividend

The business 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's payout ratio is currently 51.90%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ITW shares. Evercore ISI lowered shares of 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. 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 report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. 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. Finally, StockNews.com raised Illinois Tool Works from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.