Foundations Investment Advisors LLC Takes $268,000 Position in Illinois Tool Works Inc. (NYSE:ITW)

Posted by Defense World Staff on Mar 21st, 2023

Foundations Investment Advisors LLC bought a new stake in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,216 shares of the industrial products company’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently modified their holdings of the stock. MADDEN SECURITIES Corp bought a new stake in shares of Illinois Tool Works during the 4th quarter valued at $68,000. Wilson & Boucher Capital Management LLC raised its holdings in shares of Illinois Tool Works by 4.4% during the 4th quarter. Wilson & Boucher Capital Management LLC now owns 5,945 shares of the industrial products company’s stock worth $1,310,000 after buying an additional 250 shares in the last quarter. O Keefe Stevens Advisory Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $207,000. Avitas Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 24.5% during the 4th quarter. Avitas Wealth Management LLC now owns 2,624 shares of the industrial products company’s stock worth $578,000 after buying an additional 517 shares in the last quarter. Finally, McGuire Investment Group LLC raised its holdings in shares of Illinois Tool Works by 0.6% during the 4th quarter. McGuire Investment Group LLC now owns 44,661 shares of the industrial products company’s stock worth $9,839,000 after buying an additional 269 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ITW. Barclays boosted their price target on Illinois Tool Works from $172.00 to $184.00 and gave the stock an “underweight” rating in a report on Thursday, January 5th. Wells Fargo & Company boosted their price target on Illinois Tool Works from $210.00 to $220.00 and gave the stock an “equal weight” rating in a report on Thursday, January 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $170.00 to $183.00 in a report on Friday, February 3rd. Robert W. Baird upped their target price on Illinois Tool Works from $222.00 to $255.00 in a report on Thursday, February 2nd. Finally, StockNews.com began coverage on Illinois Tool Works in a report on Thursday, March 16th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $223.07.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total value of $58,039,716.24. Following the transaction, the chief executive officer now owns 213,538 shares in the company, valued at $52,592,274.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total value of $14,809,337.62. Following the transaction, the insider now owns 40,072 shares in the company, valued at $9,868,130.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernest Scott Santi sold 235,656 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total value of $58,039,716.24. Following the completion of the transaction, the chief executive officer now owns 213,538 shares in the company, valued at approximately $52,592,274.02. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

Illinois Tool Works Trading Up 1.8 %

NYSE ITW opened at $233.89 on Tuesday. The business’s 50-day moving average price is $234.17 and its two-hundred day moving average price is $218.27. Illinois Tool Works Inc. has a 12 month low of $173.52 and a 12 month high of $253.37. The firm has a market capitalization of $71.35 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.48 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a net margin of 19.04% and a return on equity of 87.15%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 9.61 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s payout ratio is 53.58%.

Illinois Tool Works Profile

(Get Rating)

Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.

Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.