Pacer Advisors Inc. Has $5.69 Million Stake in Illinois Tool Works Inc. $ITW

Pacer Advisors Inc. reduced its position in Illinois Tool Works Inc. (NYSE:ITW) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,822 shares of the industrial products company’s stock after selling 5,253 shares during the quarter. Pacer Advisors Inc.’s holdings in Illinois Tool Works were worth $5,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Modern Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 8.3% in the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 65 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Illinois Tool Works by 39.5% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after purchasing an additional 19,102 shares during the last quarter. Level Four Advisory Services LLC lifted its position in shares of Illinois Tool Works by 16.3% in the 2nd quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock worth $2,888,000 after purchasing an additional 1,638 shares during the period. Swiss National Bank boosted its stake in shares of Illinois Tool Works by 1.3% in the 2nd quarter. Swiss National Bank now owns 844,000 shares of the industrial products company’s stock valued at $208,679,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Illinois Tool Works by 12.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,797,055 shares of the industrial products company’s stock worth $938,822,000 after buying an additional 415,982 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $252.26 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 2.39. The firm has a fifty day simple moving average of $248.37 and a two-hundred day simple moving average of $254.06. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $278.13. The firm has a market capitalization of $73.18 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 11.24 and a beta of 1.14.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $3.91 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. Analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $1.61 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is 62.46%.

Insider Buying and Selling at Illinois Tool Works

In other news, Director Pamela B. Strobel sold 1,521 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ITW shares. Robert W. Baird set a $265.00 price target on Illinois Tool Works in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their target price on Illinois Tool Works from $265.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Truist Financial reduced their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a research report on Monday, October 27th. Finally, Wells Fargo & Company dropped their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average target price of $259.25.

About Illinois Tool Works

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.