Claro Advisors LLC Purchases 187 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Claro Advisors LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,622 shares of the industrial products company’s stock after acquiring an additional 187 shares during the quarter. Claro Advisors LLC’s holdings in Illinois Tool Works were worth $972,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $818,408,000. Vanguard Group Inc. lifted its holdings in 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 worth $6,035,292,000 after buying an additional 1,238,239 shares during the period. Alecta Tjanstepension Omsesidigt lifted its stake 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 worth $294,671,000 after purchasing an additional 675,000 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Illinois Tool Works by 122.7% in the 4th quarter. Corient Private Wealth LLC now owns 629,636 shares of the industrial products company’s stock valued at $164,927,000 after buying an additional 346,919 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Illinois Tool Works by 23,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 315,260 shares of the industrial products company’s stock worth $82,579,000 after purchasing an additional 313,906 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ITW has been the subject of several recent analyst reports. Truist Financial raised their price target on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Citigroup upped their price target on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday. Finally, Barclays dropped their target price on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $256.44.

Illinois Tool Works Stock Down 1.5 %

Shares of ITW opened at $233.41 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. Illinois Tool Works Inc. has a one year low of $217.50 and a one year high of $271.15. The stock has a market capitalization of $69.65 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 3.48 and a beta of 1.10. The stock has a 50 day moving average price of $243.51 and a 200 day moving average price of $253.84.

Illinois Tool Works (NYSE:ITW) last issued its 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 net margin of 19.07% and a return on equity of 97.82%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the business earned $2.33 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Illinois Tool Works Inc. will post 10.22 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, June 28th. Illinois Tool Works’s payout ratio is currently 55.23%.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 775 shares of Illinois Tool Works stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

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.