Illinois Tool Works Inc. (NYSE:ITW) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,771 shares of the industrial products company’s stock after acquiring an additional 556 shares during the period. Cetera Investment Advisers’ holdings in Illinois Tool Works were worth $16,170,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $25,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth about $26,000. Glass Jacobson Investment Advisors llc grew its stake in Illinois Tool Works by 336.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 84 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $28,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $242.40 on Friday. The firm has a market capitalization of $71.11 billion, a PE ratio of 20.68, a PEG ratio of 4.56 and a beta of 1.12. Illinois Tool Works Inc. has a 1 year low of $214.66 and a 1 year high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm’s fifty day simple moving average is $243.34 and its 200 day simple moving average is $255.87.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the business posted $2.44 earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.00 annualized dividend and a dividend yield of 2.48%. Illinois Tool Works’s dividend payout ratio is 52.77%.

Analyst Ratings Changes

Several research firms have weighed in on ITW. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Stifel Nicolaus lifted their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Barclays dropped their target price on Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Truist Financial dropped their price objective on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $253.67.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 in the last ninety days. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Profile

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.