PNC Financial Services Group Inc. Sells 186,852 Shares of Illinois Tool Works Inc. $ITW

PNC Financial Services Group Inc. trimmed its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 16.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. 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. owned 0.33% of Illinois Tool Works worth $253,337,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ITW. Corsicana & Co. bought a new position in shares of Illinois Tool Works in the third quarter valued at approximately $26,000. Vermillion & White Wealth Management Group LLC lifted its stake in 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 worth $31,000 after purchasing an additional 63 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at $31,000. True Wealth Design LLC increased its holdings in shares of Illinois Tool Works by 341.9% in the third quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 106 shares during the period. Finally, MTM Investment Management LLC boosted its stake in Illinois Tool Works by 70.5% during the third quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock valued at $42,000 after buying an additional 67 shares during the period. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In other Illinois Tool Works news, Director Ernest Scott Santi sold 167,345 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total value of $48,685,680.85. Following the sale, the director owned 258,766 shares of the company’s stock, valued at $75,282,792.38. This trade represents a 39.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Axel Beck sold 4,223 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the transaction, the executive vice president directly owned 5,789 shares of the company’s stock, valued at approximately $1,680,083.58. This trade represents a 42.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

Illinois Tool Works Price Performance

ITW stock opened at $299.27 on Friday. The firm has a market cap of $86.82 billion, a P/E ratio of 28.53, a P/E/G ratio of 16.05 and a beta of 1.15. The firm’s fifty day moving average is $261.51 and its 200 day moving average is $257.04. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $303.15. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.89 and a current ratio of 1.21.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data 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 analysts’ expectations of $4.07 billion. During the same period last year, the firm earned $2.54 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their target price for the company from $220.00 to $255.00 in a research note on Tuesday, November 18th. Evercore cut their price target on shares of Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating for the company in a research note on Monday, November 17th. Citigroup raised their price objective on shares of Illinois Tool Works from $271.00 to $284.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company upped their target price on shares of Illinois Tool Works from $250.00 to $270.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $272.92.

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.