PNC Financial Services Group Inc. Reduces Holdings in Illinois Tool Works Inc. $ITW

PNC Financial Services Group Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 945,441 shares of the industrial products company’s stock after selling 26,091 shares during the quarter. PNC Financial Services Group Inc. owned 0.33% of Illinois Tool Works worth $232,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ITW. Cresta Advisors Ltd. purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $25,000. Lodestone Wealth Management LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $28,000. Beacon Financial Strategies CORP purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $29,000. Ares Financial Consulting LLC purchased a new position in shares of Illinois Tool Works in the fourth quarter worth approximately $31,000. Finally, MTM Investment Management LLC boosted its holdings in shares of 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 buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ITW shares. UBS Group reissued a “neutral” rating and issued a $285.00 price objective on shares of Illinois Tool Works in a report on Wednesday, February 4th. Robert W. Baird set a $278.00 price target on shares of Illinois Tool Works in a report on Wednesday, February 4th. Truist Financial lifted their price target on shares of Illinois Tool Works from $275.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Barclays lowered their price target on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. Finally, Wolfe Research lifted their price target on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Illinois Tool Works presently has a consensus rating of “Reduce” and a consensus price target of $271.92.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $247.33 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15. The company has a market capitalization of $71.16 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.29 and a beta of 1.04. The firm’s 50 day simple moving average is $262.91 and its two-hundred day simple moving average is $262.07.

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

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders 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 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.80%.

Illinois Tool Works Company 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.