Pacific Heights Asset Management LLC Raises Position in Illinois Tool Works Inc. $ITW

Pacific Heights Asset Management LLC lifted its position in Illinois Tool Works Inc. (NYSE:ITW) by 9.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 100,000 shares of the industrial products company’s stock after acquiring an additional 9,000 shares during the period. Illinois Tool Works comprises about 1.2% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Pacific Heights Asset Management LLC’s holdings in Illinois Tool Works were worth $26,076,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new stake in shares of Illinois Tool Works during the second quarter valued at $25,000. SOA Wealth Advisors LLC. lifted its stake in Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Corsicana & Co. purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Illinois Tool Works by 103.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 63 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Illinois Tool Works during the second quarter valued at approximately $31,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $263.56 on Tuesday. The business has a 50-day simple moving average of $250.53 and a two-hundred day simple moving average of $254.86. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 2.39. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $278.13. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 14.16 and a beta of 1.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.09. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Illinois Tool Works had a return on equity of 93.26% and a net margin of 19.05%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.91 EPS. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, analysts expect that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a $1.61 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.4%. Illinois Tool Works’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ITW. Barclays boosted their target price on shares of Illinois Tool Works from $243.00 to $244.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Robert W. Baird set a $265.00 price objective on Illinois Tool Works in a research report on Monday, October 27th. Evercore ISI dropped their target price on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a research report on Monday, November 17th. Wolfe Research upped their price target on shares of Illinois Tool Works from $264.00 to $278.00 and gave the company an “underperform” rating in a research report on Thursday, January 15th. Finally, Truist Financial dropped their price objective on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Reduce” and a consensus price target of $261.08.

Insider Activity at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the transaction, the director owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.