Illinois Tool Works Inc. $ITW Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers raised its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,943 shares of the industrial products company's stock after purchasing an additional 10,272 shares during the quarter. Cetera Investment Advisers' holdings in Illinois Tool Works were worth $35,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ITW. Brighton Jones LLC grew its stake in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company's stock worth $1,399,000 after buying an additional 277 shares during the period. Bison Wealth LLC raised its stake in shares of Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company's stock valued at $901,000 after acquiring an additional 81 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Illinois Tool Works by 20.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company's stock valued at $257,000 after acquiring an additional 177 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company's stock valued at $26,401,000 after acquiring an additional 19,248 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Illinois Tool Works by 2.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company's stock worth $33,845,000 after purchasing an additional 2,890 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of Illinois Tool Works stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $247.99 per share, for a total transaction of $199,879.94. Following the purchase, the director owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.83% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $282.91 on Friday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. The firm has a market capitalization of $81.39 billion, a P/E ratio of 26.27, a P/E/G ratio of 4.86 and a beta of 1.00. The company's fifty day moving average price is $262.39 and its two-hundred day moving average price is $266.96.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm earned $2.38 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.61 per share. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 annualized dividend and a yield of 2.3%. Illinois Tool Works's payout ratio is currently 59.80%.

Analyst Upgrades and Downgrades

ITW has been the topic of several research reports. Evercore cut their price objective on Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Wolfe Research reaffirmed an "underperform" rating and issued a $286.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 9th. Truist Financial increased their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Wells Fargo & Company raised their target price on Illinois Tool Works from $245.00 to $255.00 and gave the company an "underweight" rating in a report on Monday, May 4th. Finally, Citigroup restated a "neutral" rating on shares of Illinois Tool Works in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, Illinois Tool Works presently has an average rating of "Reduce" and a consensus target price of $274.00.

Illinois Tool Works Company Profile

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.

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