Cetera Advisor Networks LLC Has $10.25 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Cetera Advisor Networks LLC increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,971 shares of the industrial products company’s stock after acquiring an additional 417 shares during the period. Cetera Advisor Networks LLC’s holdings in Illinois Tool Works were worth $10,249,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ITW. Cibc World Market Inc. lifted its holdings in Illinois Tool Works by 3.7% during the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock valued at $2,024,000 after purchasing an additional 348 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Illinois Tool Works by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock valued at $1,899,000 after purchasing an additional 368 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Illinois Tool Works by 54.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 1,011 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Illinois Tool Works by 9.9% during the 1st quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 217 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Illinois Tool Works by 70.7% during the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 309 shares during the last quarter. 79.56% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.4 %

Shares of NYSE:ITW opened at $239.92 on Friday. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $264.19. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $72.19 billion, a PE ratio of 23.27, a PEG ratio of 4.56 and a beta of 1.14. The company has a 50 day moving average price of $231.89 and a two-hundred day moving average price of $237.73.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a net margin of 19.55% and a return on equity of 95.68%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Analysts forecast that Illinois Tool Works Inc. will post 9.68 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s dividend payout ratio is 54.32%.

Wall Street Analysts Forecast Growth

ITW has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of Illinois Tool Works from $230.00 to $232.00 and gave the company an “underweight” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $235.00 in a research note on Monday, October 9th. Credit Suisse Group boosted their target price on shares of Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, Citigroup boosted their target price on shares of Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $238.25.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.