Natixis Advisors LLC Has $54.45 Million Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Natixis Advisors LLC boosted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,758 shares of the industrial products company’s stock after acquiring an additional 8,460 shares during the quarter. Natixis Advisors LLC owned 0.07% of Illinois Tool Works worth $54,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Banco Santander S.A. acquired a new position in Illinois Tool Works in the 1st quarter valued at approximately $483,000. First Foundation Advisors grew its holdings in shares of Illinois Tool Works by 167.0% during the 1st quarter. First Foundation Advisors now owns 494 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 309 shares in the last quarter. Nicolet Advisory Services LLC increased its stake in shares of Illinois Tool Works by 5.6% in the first quarter. Nicolet Advisory Services LLC now owns 1,060 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 56 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Illinois Tool Works during the first quarter worth $244,000. Finally, Covestor Ltd boosted its position in Illinois Tool Works by 17.9% during the first quarter. Covestor Ltd now owns 375 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 57 shares during 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 $270.62 on Friday. The stock has a 50-day simple moving average of $260.09 and a 200 day simple moving average of $248.94. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.58. The stock has a market capitalization of $79.91 billion, a PE ratio of 23.41, a P/E/G ratio of 4.19 and a beta of 1.10. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

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 for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.55 earnings per share. Research analysts anticipate that Illinois Tool Works Inc. will post 10.13 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. Illinois Tool Works’s payout ratio is 51.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus upped their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Truist Financial raised their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird raised their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.30.

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.