Asset Management One Co. Ltd. Has $30.53 Million Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Asset Management One Co. Ltd. trimmed its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,494 shares of the industrial products company’s stock after selling 7,772 shares during the period. Asset Management One Co. Ltd.’s holdings in Illinois Tool Works were worth $30,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the 2nd quarter worth $30,000. Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth about $35,000. Meeder Asset Management Inc. grew its stake in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after buying an additional 115 shares during the period. Finally, Valued Wealth Advisors LLC boosted its stake in Illinois Tool Works by 2,162.5% during the 2nd quarter. Valued Wealth Advisors LLC now owns 181 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 173 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $263.88 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. The firm has a 50-day moving average of $255.90 and a 200-day moving average of $247.50. The firm has a market cap of $77.92 billion, a P/E ratio of 22.83, a P/E/G ratio of 3.84 and a beta of 1.10. Illinois Tool Works Inc. has a 1-year low of $227.66 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business posted $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.75 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ITW. JPMorgan Chase & Co. upped their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” 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 report on Monday, August 19th. Truist Financial upped their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus increased their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $256.40.

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.