Daiwa Securities Group Inc. Purchases 2,909 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Daiwa Securities Group Inc. increased its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,035 shares of the industrial products company’s stock after buying an additional 2,909 shares during the period. Daiwa Securities Group Inc.’s holdings in Illinois Tool Works were worth $7,828,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Steele Capital Management Inc. lifted its holdings in shares of Illinois Tool Works by 4.9% in the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after buying an additional 40 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Illinois Tool Works by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after purchasing an additional 42 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Illinois Tool Works by 3.0% during the first quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 44 shares in the last quarter. Carson Advisory Inc. increased its holdings in shares of Illinois Tool Works by 3.0% in the first quarter. Carson Advisory Inc. now owns 1,552 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 45 shares during the last quarter. Finally, Trifecta Capital Advisors LLC lifted its position in shares of Illinois Tool Works by 0.8% in the first quarter. Trifecta Capital Advisors LLC now owns 5,948 shares of the industrial products company’s stock worth $1,596,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ITW shares. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Evercore ISI decreased their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays lowered their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Truist Financial lowered their price target on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $250.22.

Illinois Tool Works Stock Down 0.3 %

Shares of NYSE ITW opened at $246.87 on Thursday. Illinois Tool Works Inc. has a 1 year low of $217.50 and a 1 year high of $271.15. The firm has a 50-day simple moving average of $243.92 and a two-hundred day simple moving average of $248.56. The company has a market cap of $73.67 billion, a P/E ratio of 24.35, a PEG ratio of 3.88 and a beta of 1.10. 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) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm 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 EPS. Illinois Tool Works’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that Illinois Tool Works Inc. will post 10.18 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

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.