Cerity Partners LLC Acquires 12,649 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Cerity Partners LLC lifted its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 248,369 shares of the industrial products company’s stock after acquiring an additional 12,649 shares during the period. Cerity Partners LLC’s holdings in Illinois Tool Works were worth $65,095,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nikulski Financial Inc. lifted its holdings in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the last quarter. Steele Capital Management Inc. lifted its holdings in Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 40 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp lifted its holdings in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Stock Up 1.5 %

Shares of NYSE ITW opened at $273.95 on Friday. The stock has a market cap of $80.90 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.18 and a beta of 1.10. The firm has a 50 day moving average price of $262.20 and a 200 day moving average price of $249.82. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works Inc. has a 52-week low of $232.77 and a 52-week high of $277.58.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 earnings per share. Analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a report on Friday, November 1st. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial boosted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $257.30.

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.