Pacer Advisors Inc. Boosts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Pacer Advisors Inc. grew its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,325 shares of the industrial products company’s stock after acquiring an additional 3,071 shares during the period. Pacer Advisors Inc.’s holdings in Illinois Tool Works were worth $8,371,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC lifted its position in shares of Illinois Tool Works by 32.8% during the second quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock worth $827,000 after acquiring an additional 862 shares in the last quarter. Callan Capital LLC lifted its position in shares of Illinois Tool Works by 8.9% during the second quarter. Callan Capital LLC now owns 2,294 shares of the industrial products company’s stock worth $544,000 after acquiring an additional 187 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Illinois Tool Works by 0.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 163,849 shares of the industrial products company’s stock worth $38,826,000 after acquiring an additional 433 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Illinois Tool Works by 3.1% during the second quarter. Ieq Capital LLC now owns 21,140 shares of the industrial products company’s stock worth $5,009,000 after acquiring an additional 638 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Illinois Tool Works by 8.2% during the second quarter. Brighton Jones LLC now owns 4,845 shares of the industrial products company’s stock worth $1,148,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITW. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company increased their price objective on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group lowered their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, four have given 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, Illinois Tool Works currently has a consensus rating of “Hold” and an average price target of $250.22.

Illinois Tool Works Stock Up 0.9 %

ITW opened at $256.72 on Tuesday. The stock has a market cap of $76.61 billion, a PE ratio of 25.32, a P/E/G ratio of 3.93 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15. The business’s fifty day simple moving average is $246.44 and its 200 day simple moving average is $248.10.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $2.41 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.18 earnings per share for the current fiscal year.

Illinois Tool Works Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.50 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is 59.17%.

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.