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

Transamerica Financial Advisors Inc. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,697 shares of the industrial products company’s stock after selling 154 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Illinois Tool Works were worth $938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pensionfund Sabic raised its stake in Illinois Tool Works by 37.0% in the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the period. Clark & Stuart Inc purchased a new position in shares of Illinois Tool Works in the fourth quarter worth about $1,729,000. Czech National Bank lifted its holdings in shares of Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the period. Finally, National Bank of Canada FI boosted its position in Illinois Tool Works by 318.9% in the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after buying an additional 308,935 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ernest Scott Santi sold 70,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the completion of the sale, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,925 shares of company stock worth $42,973,845. Insiders own 1.26% of the company’s stock.

Illinois Tool Works Stock Down 2.2 %

Shares of ITW opened at $246.34 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market cap of $72.30 billion, a P/E ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. The stock’s 50 day moving average is $258.40 and its two-hundred day moving average is $260.73. Illinois Tool Works Inc. has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial boosted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price target on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group raised their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $268.30.

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.