Pacific Heights Asset Management LLC Purchases 28,000 Shares of Illinois Tool Works Inc. $ITW

Pacific Heights Asset Management LLC boosted its position in Illinois Tool Works Inc. (NYSE:ITW) by 44.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,000 shares of the industrial products company’s stock after acquiring an additional 28,000 shares during the quarter. Illinois Tool Works accounts for 1.2% of Pacific Heights Asset Management LLC’s holdings, making the stock its 16th largest holding. Pacific Heights Asset Management LLC’s holdings in Illinois Tool Works were worth $22,500,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. OneAscent Financial Services LLC grew its stake in shares of Illinois Tool Works by 25.8% during the first quarter. OneAscent Financial Services LLC now owns 1,664 shares of the industrial products company’s stock worth $416,000 after buying an additional 341 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of Illinois Tool Works by 8.3% during the first quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock worth $210,000 after buying an additional 65 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of Illinois Tool Works during the first quarter worth $259,000. Global X Japan Co. Ltd. grew its stake in shares of Illinois Tool Works by 8.3% during the second quarter. Global X Japan Co. Ltd. now owns 2,523 shares of the industrial products company’s stock worth $624,000 after buying an additional 193 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Illinois Tool Works by 17.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,987 shares of the industrial products company’s stock worth $4,447,000 after buying an additional 2,647 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $265.08, for a total value of $1,803,074.16. Following the completion of the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Price Performance

ITW stock opened at $257.17 on Wednesday. The firm has a market cap of $74.96 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 5.58 and a beta of 1.10. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40. Illinois Tool Works Inc. has a 12-month low of $214.66 and a 12-month high of $279.13. The company’s fifty day simple moving average is $260.00 and its 200 day simple moving average is $251.17.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. Illinois Tool Works’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.54 earnings per share. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $1.61 dividend. The ex-dividend date was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 annualized dividend and a yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.44%.

Analyst Ratings Changes

A number of research firms have weighed in on ITW. Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $255.00 to $261.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Illinois Tool Works in a report on Wednesday, October 8th. UBS Group lifted their price target on shares of Illinois Tool Works from $243.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st. Citigroup lifted their price target on shares of Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $235.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and an average price target of $262.83.

Illinois Tool Works 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.