Pacer Advisors Inc. Has $4.32 Million Position in Illinois Tool Works Inc. (NYSE:ITW)

Pacer Advisors Inc. increased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1,477.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,712 shares of the industrial products company’s stock after acquiring an additional 23,145 shares during the period. Pacer Advisors Inc.’s holdings in Illinois Tool Works were worth $4,321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ITW. Nachman Norwood & Parrott Inc lifted its holdings in Illinois Tool Works by 0.4% during the 2nd quarter. Nachman Norwood & Parrott Inc now owns 14,475 shares of the industrial products company’s stock valued at $2,531,000 after purchasing an additional 61 shares during the last quarter. Lynch & Associates IN lifted its holdings in Illinois Tool Works by 0.4% during the 1st quarter. Lynch & Associates IN now owns 15,548 shares of the industrial products company’s stock valued at $2,210,000 after purchasing an additional 65 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in Illinois Tool Works by 1.3% during the 1st quarter. Center for Financial Planning Inc. now owns 5,093 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 65 shares during the last quarter. AIA Investment Management Private Ltd lifted its holdings in Illinois Tool Works by 6.9% during the 1st quarter. AIA Investment Management Private Ltd now owns 1,032 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 67 shares during the last quarter. Finally, Tarbox Family Office Inc. lifted its holdings in Illinois Tool Works by 32.5% during the 2nd quarter. Tarbox Family Office Inc. now owns 273 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.

ITW has been the subject of several analyst reports. Gordon Haskett downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price target for the company. in a report on Friday, May 8th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $187.00 price target for the company in a report on Thursday, May 28th. Northcoast Research raised shares of Illinois Tool Works from a “sell” rating to a “neutral” rating in a research note on Friday, May 8th. Wells Fargo & Co dropped their target price on shares of Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Finally, Credit Suisse Group dropped their target price on shares of Illinois Tool Works from $151.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $160.81.

Shares of NYSE:ITW opened at $184.99 on Friday. Illinois Tool Works Inc. has a one year low of $115.94 and a one year high of $190.85. The company has a 50 day moving average of $175.28 and a 200-day moving average of $168.07. The company has a debt-to-equity ratio of 3.37, a current ratio of 2.71 and a quick ratio of 2.13. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 4.65 and a beta of 1.16.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, July 31st. The industrial products company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.70 by $0.31. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company earned $1.91 EPS. Illinois Tool Works’s revenue was down 29.0% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works Inc. will post 5.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, June 29th. Illinois Tool Works’s dividend payout ratio is 55.23%.

In other news, Director Richard H. Lenny acquired 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $159.19 per share, for a total transaction of $250,724.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest Scott Santi acquired 6,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $158.42 per share, with a total value of $998,046.00. Following the acquisition, the chief executive officer now owns 141,994 shares of the company’s stock, valued at approximately $22,494,689.48. The disclosure for this purchase can be found here. 0.79% of the stock is currently owned by insiders.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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