PNC Financial Services Group Inc. Trims Position in Illinois Tool Works Inc. $ITW

PNC Financial Services Group Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 971,532 shares of the industrial products company’s stock after selling 186,852 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Illinois Tool Works were worth $253,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ITW. Corsicana & Co. bought a new position in Illinois Tool Works in the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Illinois Tool Works by 103.3% in the 2nd 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 period. True Wealth Design LLC boosted its position in shares of Illinois Tool Works by 341.9% during the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 106 shares in the last quarter. Finally, MTM Investment Management LLC grew its stake in Illinois Tool Works by 70.5% in the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 67 shares during the period. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW opened at $299.27 on Friday. The company has a market cap of $86.82 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 16.05 and a beta of 1.15. The business’s fifty day simple moving average is $261.51 and its two-hundred day simple moving average is $257.04. Illinois Tool Works Inc. has a 12 month low of $214.66 and a 12 month high of $303.15. The company has a current ratio of 1.21, a quick ratio of 0.89 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.03. Illinois Tool Works had a return on equity of 95.16% and a net margin of 19.11%.The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Research analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ITW shares. Citigroup boosted their target price on shares of Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Truist Financial upped their price objective on shares of Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. Wolfe Research decreased their target price on shares of Illinois Tool Works from $278.00 to $276.00 and set an “underperform” rating for the company in a research note on Wednesday, February 4th. Bank of America raised Illinois Tool Works from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $255.00 in a research report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. raised their price objective on Illinois Tool Works from $275.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $272.92.

Insider Buying and Selling

In related news, EVP Axel Beck sold 4,223 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $290.22, for a total value of $1,225,599.06. Following the sale, the executive vice president owned 5,789 shares in the company, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 167,345 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the sale, the director owned 258,766 shares of the company’s stock, valued at approximately $75,282,792.38. This represents a 39.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.88% of the company’s stock.

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.