First Pacific Financial Has $895,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

First Pacific Financial reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,528 shares of the industrial products company’s stock after selling 76 shares during the period. First Pacific Financial’s holdings in Illinois Tool Works were worth $895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in Illinois Tool Works by 25.8% during the second quarter. Federated Hermes Inc. now owns 12,753 shares of the industrial products company’s stock worth $3,022,000 after acquiring an additional 2,617 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Illinois Tool Works by 5.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,362 shares of the industrial products company’s stock valued at $1,271,000 after purchasing an additional 287 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in Illinois Tool Works by 1.7% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 8,441 shares of the industrial products company’s stock valued at $2,000,000 after buying an additional 142 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Illinois Tool Works by 1.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 30,269 shares of the industrial products company’s stock worth $7,172,000 after buying an additional 468 shares in the last quarter. Finally, Tredje AP fonden lifted its stake in shares of Illinois Tool Works by 131.5% in the 2nd quarter. Tredje AP fonden now owns 17,782 shares of the industrial products company’s stock valued at $4,214,000 after acquiring an additional 10,100 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ITW. Wells Fargo & Company dropped their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Truist Financial lifted their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $270.11.

Illinois Tool Works Price Performance

ITW stock opened at $255.83 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company’s fifty day simple moving average is $264.91 and its 200 day simple moving average is $255.29. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.55 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 3.55 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

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.