Claro Advisors LLC Has $4.09 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Claro Advisors LLC grew its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 358.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,586 shares of the industrial products company's stock after purchasing an additional 12,183 shares during the period. Claro Advisors LLC's holdings in Illinois Tool Works were worth $4,085,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. AXA S.A. increased its position 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 purchasing an additional 241,618 shares during the period. Guinness Asset Management LTD grew its holdings in Illinois Tool Works by 30.7% during the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company's stock worth $181,926,000 after acquiring an additional 180,458 shares during the period. Dimensional Fund Advisors LP raised its position in Illinois Tool Works by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company's stock worth $361,998,000 after acquiring an additional 133,853 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Illinois Tool Works by 2,334.0% in the 1st quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company's stock valued at $34,119,000 after acquiring an additional 121,928 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Illinois Tool Works by 75.1% during the 2nd quarter. Renaissance Technologies LLC now owns 258,000 shares of the industrial products company's stock valued at $61,136,000 after purchasing an additional 110,673 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.1 %

ITW traded up $0.37 on Friday, reaching $261.03. 671,669 shares of the company traded hands, compared to its average volume of 1,070,550. The stock's 50 day moving average price is $251.94 and its 200-day moving average price is $247.59. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 4.10 and a beta of 1.10. Illinois Tool Works Inc. has a 52-week low of $217.50 and a 52-week high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $2.41 earnings per share. Illinois Tool Works's quarterly revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that Illinois Tool Works Inc. will post 10.18 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.30%. This is an increase from Illinois Tool Works's previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. Illinois Tool Works's dividend payout ratio is presently 59.17%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ITW. Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on Illinois Tool Works from $275.00 to $240.00 and set a "hold" rating for the company in a report on Thursday, July 11th. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th. Finally, Truist Financial upped their price objective 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. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $255.44.

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.