Bank of New York Mellon Corp Trims Holdings in Illinois Tool Works Inc. $ITW

Bank of New York Mellon Corp reduced its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,295,734 shares of the industrial products company’s stock after selling 78,534 shares during the quarter. Bank of New York Mellon Corp’s holdings in Illinois Tool Works were worth $597,557,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in Illinois Tool Works by 5.3% during the fourth quarter. Brighton Jones LLC now owns 5,519 shares of the industrial products company’s stock worth $1,399,000 after acquiring an additional 277 shares during the last quarter. Bison Wealth LLC raised its holdings in Illinois Tool Works by 2.3% in the 4th quarter. Bison Wealth LLC now owns 3,555 shares of the industrial products company’s stock valued at $901,000 after acquiring an additional 81 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Illinois Tool Works by 20.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,038 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 177 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Illinois Tool Works by 22.0% during the 2nd quarter. Sei Investments Co. now owns 106,784 shares of the industrial products company’s stock worth $26,401,000 after purchasing an additional 19,248 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Illinois Tool Works by 2.2% during the second quarter. Treasurer of the State of North Carolina now owns 136,884 shares of the industrial products company’s stock worth $33,845,000 after purchasing an additional 2,890 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

ITW opened at $282.99 on Friday. Illinois Tool Works Inc. has a 52-week low of $238.82 and a 52-week high of $303.15. The company has a 50 day moving average of $259.45 and a two-hundred day moving average of $265.96. The company has a market cap of $81.42 billion, a P/E ratio of 26.28, a P/E/G ratio of 4.66 and a beta of 1.00. 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 (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.01 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The business’s quarterly 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, analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 30th. Illinois Tool Works’s payout ratio is currently 59.80%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Citigroup reissued a “neutral” rating on shares of Illinois Tool Works in a research note on Monday. Wells Fargo & Company lifted their price target on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a report on Monday, May 4th. Barclays dropped their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Finally, Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus 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.