Cetera Advisor Networks LLC Raises Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Cetera Advisor Networks LLC increased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm 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 quarter.

Several other hedge funds also recently added to or reduced their stakes in ITW. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Illinois Tool Works by 293.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,135 shares of the industrial products company’s stock worth $7,288,000 after buying an additional 21,730 shares during the period. Core Alternative Capital raised its stake in Illinois Tool Works by 9.3% in the second quarter. Core Alternative Capital now owns 11,364 shares of the industrial products company’s stock valued at $2,843,000 after buying an additional 967 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Illinois Tool Works by 28.5% in the second quarter. Foundations Investment Advisors LLC now owns 1,340 shares of the industrial products company’s stock valued at $335,000 after buying an additional 297 shares in the last quarter. National Bank of Canada FI increased its position in shares of Illinois Tool Works by 44.6% during the second quarter. National Bank of Canada FI now owns 73,596 shares of the industrial products company’s stock worth $18,440,000 after purchasing an additional 22,701 shares in the last quarter. Finally, One Capital Management LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth about $249,000. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $239.92 on Friday. The firm has a 50 day moving average of $231.89 and a 200-day moving average of $237.73. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $264.19. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 2.27. The company has a market cap of $72.19 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.56 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.09. Illinois Tool Works had a return on equity of 95.68% and a net margin of 19.55%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the previous year, the firm posted $2.35 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that Illinois Tool Works Inc. will post 9.68 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on ITW shares. Credit Suisse Group lifted their target price on Illinois Tool Works from $281.00 to $292.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company lowered their price target on Illinois Tool Works from $250.00 to $235.00 in a report on Monday, October 9th. Morgan Stanley raised their price target on Illinois Tool Works from $230.00 to $232.00 and gave the stock an “underweight” rating in a report on Thursday, August 3rd. Citigroup raised their price target on Illinois Tool Works from $256.00 to $258.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $238.25.

About Illinois Tool Works

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.