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

PNC Financial Services Group Inc. decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 942,426 shares of the industrial products company’s stock after selling 3,015 shares during the period. PNC Financial Services Group Inc. owned 0.33% of Illinois Tool Works worth $245,304,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Meridian Wealth Management LLC lifted its holdings in Illinois Tool Works by 1.3% during the fourth quarter. Meridian Wealth Management LLC now owns 2,818 shares of the industrial products company’s stock worth $694,000 after buying an additional 37 shares during the period. Winnow Wealth LLC increased its holdings in shares of Illinois Tool Works by 1.0% in the 4th quarter. Winnow Wealth LLC now owns 3,809 shares of the industrial products company’s stock valued at $941,000 after acquiring an additional 37 shares during the period. Crown Wealth Group LLC raised its position in shares of Illinois Tool Works by 4.0% in the 1st quarter. Crown Wealth Group LLC now owns 953 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 37 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in shares of Illinois Tool Works by 3.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 1,065 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 39 shares in the last quarter. Finally, Revisor Wealth Management LLC lifted its stake in shares of Illinois Tool Works by 1.4% during the 4th quarter. Revisor Wealth Management LLC now owns 2,841 shares of the industrial products company’s stock worth $734,000 after purchasing an additional 39 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Up 0.1%

Illinois Tool Works stock opened at $272.06 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. The stock has a market cap of $78.27 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 4.67 and a beta of 1.00. The stock has a 50-day moving average of $260.69 and a two-hundred day moving average of $266.46. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

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

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s payout ratio is currently 59.80%.

Insider Transactions at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the acquisition, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITW. Wolfe Research reiterated an “underperform” rating and issued a $286.00 target price on shares of Illinois Tool Works in a research note on Thursday, July 9th. Evercore decreased their price target on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of Illinois Tool Works from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Citigroup reaffirmed a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $274.00.

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.