Pinnacle Associates Ltd. Has $10.83 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Pinnacle Associates Ltd. reduced its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,979 shares of the industrial products company’s stock after selling 2,275 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Illinois Tool Works were worth $10,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Illinois Tool Works by 2.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 50,275 shares of the industrial products company’s stock valued at $12,390,000 after buying an additional 1,312 shares in the last quarter. Western Wealth Management LLC increased its stake in Illinois Tool Works by 6.6% in the fourth quarter. Western Wealth Management LLC now owns 1,934 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 119 shares during the last quarter. Allworth Financial LP increased its stake in Illinois Tool Works by 22.1% in the fourth quarter. Allworth Financial LP now owns 6,751 shares of the industrial products company’s stock valued at $1,663,000 after acquiring an additional 1,222 shares during the last quarter. Stonebridge Financial Group LLC MO acquired a new position in Illinois Tool Works during the fourth quarter valued at approximately $214,000. Finally, Argos Wealth Advisors LLC bought a new stake in Illinois Tool Works during the fourth quarter worth $366,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a research note on Monday. UBS Group reiterated a “neutral” rating and issued a $285.00 target price on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Truist Financial boosted their target price on Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Citigroup raised their price target on shares of Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. 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 equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $271.92.

Illinois Tool Works Trading Up 0.1%

Shares of ITW stock opened at $250.46 on Friday. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The stock’s fifty day simple moving average is $264.96 and its 200 day simple moving average is $262.01. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $72.06 billion, a P/E ratio of 23.26, a P/E/G ratio of 4.30 and a beta of 1.04.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.38 earnings per share. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, sell-side analysts predict that Illinois Tool Works Inc. will post 11.36 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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