Bank of America Corp DE Increases Holdings in Illinois Tool Works Inc. $ITW

Bank of America Corp DE lifted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,005,659 shares of the industrial products company’s stock after buying an additional 72,951 shares during the period. Bank of America Corp DE’s holdings in Illinois Tool Works were worth $782,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cresta Advisors Ltd. acquired a new position in Illinois Tool Works during the fourth quarter worth approximately $25,000. Motiv8 Investments LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $27,000. Kemnay Advisory Services Inc. purchased a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $31,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $254.00 price objective on shares of Illinois Tool Works in a research report on Thursday, April 30th. Truist Financial boosted their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Wolfe Research restated an “underperform” rating and set a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. Evercore decreased their price target on Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $281.25.

Insider Activity at Illinois Tool Works

In related news, Director Jennifer F. Scanlon bought 806 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. The trade was a 95.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $287.51 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $82.72 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.83 and a beta of 1.00. The firm has a 50-day moving average price of $266.31 and a two-hundred day moving average price of $268.26. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%.Illinois Tool Works’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. As a group, research analysts expect that Illinois Tool Works Inc. will post 11.47 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $1.61 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 annualized dividend and a yield of 2.2%. Illinois Tool Works’s payout ratio is 58.39%.

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.