Pacer Advisors Inc. Buys 8,922 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Pacer Advisors Inc. increased its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,247 shares of the industrial products company’s stock after purchasing an additional 8,922 shares during the quarter. Pacer Advisors Inc.’s holdings in Illinois Tool Works were worth $11,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ITW. Canada Pension Plan Investment Board raised its position in Illinois Tool Works by 814,660.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 81,476 shares of the industrial products company’s stock worth $21,862,000 after purchasing an additional 81,466 shares during the period. PEAK6 Investments LLC raised its holdings in shares of Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after buying an additional 140 shares during the period. BOKF NA lifted its stake in shares of Illinois Tool Works by 2.6% during the 1st quarter. BOKF NA now owns 16,476 shares of the industrial products company’s stock worth $4,370,000 after acquiring an additional 416 shares during the last quarter. Ascent Group LLC boosted its holdings in Illinois Tool Works by 12.4% during the 1st quarter. Ascent Group LLC now owns 3,580 shares of the industrial products company’s stock valued at $961,000 after acquiring an additional 394 shares during the period. Finally, Caxton Associates LP grew its position in Illinois Tool Works by 114.6% in the 1st quarter. Caxton Associates LP now owns 10,280 shares of the industrial products company’s stock valued at $2,758,000 after acquiring an additional 5,490 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of ITW stock opened at $273.95 on Friday. The stock’s 50-day moving average is $262.20 and its 200 day moving average is $249.82. Illinois Tool Works Inc. has a 1-year low of $232.77 and a 1-year high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $80.90 billion, a P/E ratio of 23.70, a PEG ratio of 4.18 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.19%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ITW. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays boosted their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and a consensus price target of $257.30.

About Illinois Tool Works

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.