PNC Financial Services Group Inc. Sells 26,091 Shares of Illinois Tool Works Inc. $ITW

PNC Financial Services Group Inc. lowered its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 945,441 shares of the industrial products company’s stock after selling 26,091 shares during the period. PNC Financial Services Group Inc.’s holdings in Illinois Tool Works were worth $232,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Illinois Tool Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,887,218 shares of the industrial products company’s stock valued at $6,622,322,000 after buying an additional 189,229 shares during the last quarter. Capital Research Global Investors increased its position in Illinois Tool Works by 3.0% in the third quarter. Capital Research Global Investors now owns 4,493,555 shares of the industrial products company’s stock worth $1,171,740,000 after purchasing an additional 131,702 shares during the last quarter. Fisher Asset Management LLC increased its position in Illinois Tool Works by 1.5% in the third quarter. Fisher Asset Management LLC now owns 3,650,562 shares of the industrial products company’s stock worth $951,921,000 after purchasing an additional 55,416 shares during the last quarter. Ameriprise Financial Inc. increased its position in Illinois Tool Works by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 2,587,639 shares of the industrial products company’s stock worth $674,871,000 after purchasing an additional 33,171 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Illinois Tool Works by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 2,333,765 shares of the industrial products company’s stock worth $608,552,000 after purchasing an additional 7,372 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Trading Down 0.9%

ITW stock opened at $247.33 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock has a market capitalization of $71.16 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.29 and a beta of 1.04. The firm’s fifty day simple moving average is $262.91 and its two-hundred day simple moving average is $262.07.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $2.38 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.61 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. Illinois Tool Works’s payout ratio is 59.80%.

Wall Street Analysts Forecast Growth

ITW has been the topic of several research reports. Citigroup boosted their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Evercore reduced their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. Wolfe Research boosted their price target on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Monday, April 27th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Profile

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.