Transamerica Financial Advisors Inc. Grows Position in Illinois Tool Works Inc. (NYSE:ITW)

Transamerica Financial Advisors Inc. raised its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 10.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,851 shares of the industrial products company’s stock after acquiring an additional 356 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Illinois Tool Works were worth $1,010,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. PEAK6 Investments LLC grew its position in Illinois Tool Works by 17.5% during the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after buying an additional 140 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Illinois Tool Works by 30.2% in the 1st quarter. Janus Henderson Group PLC now owns 51,969 shares of the industrial products company’s stock worth $13,945,000 after acquiring an additional 12,051 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Illinois Tool Works by 10.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,930 shares of the industrial products company’s stock valued at $2,933,000 after purchasing an additional 1,017 shares in the last quarter. Tidal Investments LLC raised its holdings in Illinois Tool Works by 70.1% during the first quarter. Tidal Investments LLC now owns 17,292 shares of the industrial products company’s stock worth $4,640,000 after purchasing an additional 7,125 shares during the last quarter. Finally, LBP AM SA purchased a new stake in Illinois Tool Works during the first quarter worth $1,410,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ITW. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Truist Financial raised their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $257.30.

Illinois Tool Works Trading Up 0.1 %

Shares of ITW opened at $276.51 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $232.77 and a fifty-two week high of $277.94. The company has a market capitalization of $81.65 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. The stock has a fifty day moving average of $263.06 and a two-hundred day moving average of $250.21. 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 released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm’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 posted $2.55 earnings per share. As a group, analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.17%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

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.