938 Shares in Illinois Tool Works Inc. (NYSE:ITW) Acquired by Transcend Capital Advisors LLC

Posted by Defense World Staff on Apr 1st, 2023

Transcend Capital Advisors LLC purchased a new stake in Illinois Tool Works Inc. (NYSE:ITW – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 938 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of the stock. Bank OZK increased its holdings in shares of Illinois Tool Works by 0.9% in the third quarter. Bank OZK now owns 5,065 shares of the industrial products company’s stock valued at $915,000 after buying an additional 45 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Illinois Tool Works by 3.7% in the fourth quarter. First Hawaiian Bank now owns 1,277 shares of the industrial products company’s stock valued at $281,000 after buying an additional 45 shares in the last quarter. Insight Folios Inc raised its stake in Illinois Tool Works by 3.0% during the 4th quarter. Insight Folios Inc now owns 1,599 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 47 shares during the period. Ten Capital Wealth Advisors LLC raised its stake in Illinois Tool Works by 16.0% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 348 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 48 shares during the period. Finally, Cornerstone Capital Inc. raised its stake in Illinois Tool Works by 0.7% during the 3rd quarter. Cornerstone Capital Inc. now owns 6,745 shares of the industrial products company’s stock valued at $1,218,000 after purchasing an additional 50 shares during the period. Institutional investors own 79.83% of the company’s stock.

Illinois Tool Works Stock Up 1.5 %

ITW stock opened at $243.45 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.41 and a quick ratio of 0.95. Illinois Tool Works Inc. has a 52-week low of $173.52 and a 52-week high of $253.37. The company has a 50-day moving average of $235.26 and a two-hundred day moving average of $220.17. The stock has a market capitalization of $74.21 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company earned $1.95 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Illinois Tool Works Inc. will post 9.53 EPS for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 30th. Illinois Tool Works’s dividend payout ratio is currently 53.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on ITW. Barclays boosted their target price on shares of Illinois Tool Works from $172.00 to $184.00 and gave the company an “underweight” rating in a research note on Thursday, January 5th. The Goldman Sachs Group boosted their target price on shares of Illinois Tool Works from $210.00 to $238.00 and gave the company a “neutral” rating in a research note on Thursday, December 15th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $222.00 to $255.00 in a research note on Thursday, February 2nd. Vertical Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and lowered their price target for the company from $240.00 to $220.00 in a report on Tuesday, January 3rd. Finally, StockNews.com began coverage on shares of Illinois Tool Works in a report on Thursday, March 16th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $223.07.

Insider Activity

In other news, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the transaction, the chief executive officer now owns 213,538 shares of the company’s stock, valued at $52,592,274.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $246.26, for a total value of $14,809,337.62. Following the completion of the transaction, the insider now owns 40,072 shares of the company’s stock, valued at $9,868,130.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest Scott Santi sold 235,656 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the transaction, the chief executive officer now directly owns 213,538 shares of the company’s stock, valued at approximately $52,592,274.02. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.

Illinois Tool Works Company Profile

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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.