Illinois Tool Works Inc. (NYSE:ITW) Shares Bought by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. lifted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 10.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,851 shares of the industrial products company’s stock after purchasing 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.

Other hedge funds have also recently bought and sold shares of the company. PEAK6 Investments LLC lifted its holdings in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $1,179,000. Handelsbanken Fonder AB grew its position in Illinois Tool Works by 7.3% in the third quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares in the last quarter. BDF Gestion purchased a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $1,727,000. Finally, NewEdge Advisors LLC lifted its position in shares of Illinois Tool Works by 7.8% during the second quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock worth $41,686,000 after purchasing an additional 12,804 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ITW shares. Truist Financial raised their price target 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price objective 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, Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $276.51 on Wednesday. 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 company has a market capitalization of $81.65 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $277.94. The business has a 50 day simple moving average of $263.06 and a 200-day simple moving average of $250.21.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $2.55 earnings per share. As a group, equities research analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share 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. Investors of record on Tuesday, December 31st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. Illinois Tool Works’s payout ratio is currently 51.90%.

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.