Claro Advisors LLC Has $972,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Claro Advisors LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,622 shares of the industrial products company’s stock after acquiring an additional 187 shares during the period. Claro Advisors LLC’s holdings in Illinois Tool Works were worth $972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Illinois Tool Works by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after acquiring an additional 1,238,239 shares during the period. Norges Bank bought a new stake in Illinois Tool Works during the 4th quarter worth about $818,408,000. Fisher Asset Management LLC lifted its holdings in Illinois Tool Works by 4.3% in the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock valued at $773,234,000 after buying an additional 122,840 shares during the period. Dimensional Fund Advisors LP grew its holdings in Illinois Tool Works by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,363 shares of the industrial products company’s stock worth $353,715,000 after acquiring an additional 26,089 shares during the period. Finally, Alecta Tjanstepension Omsesidigt raised its position in shares of Illinois Tool Works by 150.0% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 1,125,000 shares of the industrial products company’s stock valued at $294,671,000 after acquiring an additional 675,000 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction on Thursday, June 13th. The shares were purchased at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ITW has been the subject of a number of analyst reports. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial boosted their price objective on shares of Illinois Tool Works from $303.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Citigroup increased their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average price target of $256.44.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $233.41 on Tuesday. The company has a fifty day moving average price of $243.51 and a 200 day moving average price of $253.84. The firm has a market cap of $69.65 billion, a PE ratio of 23.02, a PEG ratio of 3.48 and a beta of 1.10. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 1-year low of $217.50 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.40%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

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.