Claro Advisors LLC Sells 421 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Claro Advisors LLC lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,527 shares of the industrial products company’s stock after selling 421 shares during the quarter. Claro Advisors LLC’s holdings in Illinois Tool Works were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pensionfund Sabic grew its position in shares of Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $1,179,000. Daiwa Securities Group Inc. grew its position in shares of Illinois Tool Works by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after purchasing an additional 3,903 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Illinois Tool Works by 7.3% during the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after purchasing an additional 9,825 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $249.41 on Tuesday. The firm has a market capitalization of $73.65 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 4.22 and a beta of 1.11. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The business has a 50 day simple moving average of $265.62 and a 200-day simple moving average of $255.18. 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) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.55 EPS. Equities analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Analyst Ratings Changes

Several analysts recently issued reports on ITW shares. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Wells Fargo & Company cut their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $270.11.

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.