Pacer Advisors Inc. Has $7.40 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Pacer Advisors Inc. reduced its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 34.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,170 shares of the industrial products company’s stock after selling 15,077 shares during the quarter. Pacer Advisors Inc.’s holdings in Illinois Tool Works were worth $7,396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC boosted its position in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at $33,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at $35,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Barclays decreased their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Trading Down 0.8 %

ITW stock opened at $256.59 on Thursday. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13. The company has a market capitalization of $75.77 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company’s 50 day moving average price is $262.74 and its two-hundred day moving average price is $256.86. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

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.