Pacer Advisors Inc. Has $4.91 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Key Points

• Pacer Advisors Inc. reduced its holdings in Illinois Tool Works by 32.2%, selling 9,383 shares and retaining 19,787 shares worth approximately $4.9 million.
• Institutional investors own 79.77% of Illinois Tool Works, with several firms increasing their stakes recently, including EP Wealth Advisors with a 42.2% increase.
• Illinois Tool Works announced a quarterly dividend of $1.50 per share, translating to an annualized yield of 2.31% and a dividend payout ratio of 52.77%.

Pacer Advisors Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 32.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,787 shares of the industrial products company's stock after selling 9,383 shares during the period. Pacer Advisors Inc.'s holdings in Illinois Tool Works were worth $4,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock valued at $3,465,570,000 after acquiring an additional 508,188 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company's stock valued at $1,620,491,000 after acquiring an additional 99,753 shares during the period. Capital Research Global Investors grew its stake in shares of Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company's stock worth $1,047,837,000 after acquiring an additional 71,934 shares during the last quarter. GAMMA Investing LLC increased its position in Illinois Tool Works by 26,372.8% during the first quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after acquiring an additional 2,057,872 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Illinois Tool Works by 11.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,059,119 shares of the industrial products company's stock valued at $522,110,000 after purchasing an additional 209,671 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Price Performance

NYSE:ITW traded down $5.31 during mid-day trading on Friday, reaching $250.67. 462,252 shares of the company were exchanged, compared to its average volume of 1,101,433. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. The company has a fifty day moving average of $250.93 and a 200 day moving average of $250.15. The stock has a market cap of $73.44 billion, a PE ratio of 21.97, a PEG ratio of 5.29 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 EPS. On average, research analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 872 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director directly owned 122,884 shares in the company, valued at approximately $29,634,705.44. This represents a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Barclays boosted their price target on Illinois Tool Works from $237.00 to $240.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company raised their price objective on Illinois Tool Works from $235.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday. Truist Financial lowered Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 target price for the company. in a research note on Thursday. Finally, Citigroup increased their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $259.08.

Illinois Tool Works Company 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.