Pacer Advisors Inc. Sells 5,253 Shares of Illinois Tool Works Inc. $ITW

Pacer Advisors Inc. cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $258.00 to $230.00 in a report on Tuesday, December 16th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $255.00 in a report on Tuesday, November 18th. Evercore ISI reduced their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a report on Monday, November 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Finally, Wells Fargo & Company dropped their price target on 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 analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus target price of $259.25.

Insider Buying and Selling

In related news, Director Pamela B. Strobel sold 1,521 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the sale, the director owned 39,249 shares of the company’s stock, valued at approximately $9,625,817.25. This represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $252.26 on Tuesday. The firm has a market capitalization of $73.18 billion, a P/E ratio of 24.47, a PEG ratio of 11.24 and a beta of 1.14. Illinois Tool Works Inc. has a one year low of $214.66 and a one year high of $278.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The business has a fifty day moving average price of $248.37 and a 200-day moving average price of $254.06.

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, topping analysts’ consensus estimates of $2.72 by $0.09. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the firm posted $3.91 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. As a group, equities research analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

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

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.