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

PNC Financial Services Group Inc. decreased its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 942,426 shares of the industrial products company’s stock after selling 3,015 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Illinois Tool Works were worth $245,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Y.D. More Investments Ltd purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth about $2,498,000. Orser Capital Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at about $979,000. Aberdeen Group plc raised its holdings in Illinois Tool Works by 4.7% in the 4th quarter. Aberdeen Group plc now owns 245,504 shares of the industrial products company’s stock worth $60,468,000 after purchasing an additional 11,035 shares during the period. Financial Planning Hawaii Inc. acquired a new position in Illinois Tool Works in the 4th quarter worth about $1,438,000. Finally, Strs Ohio boosted its position in Illinois Tool Works by 20.5% during the fourth quarter. Strs Ohio now owns 83,263 shares of the industrial products company’s stock worth $20,508,000 after purchasing an additional 14,186 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

NYSE:ITW opened at $272.06 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $238.82 and a 12 month high of $303.15. The stock has a 50 day moving average of $260.69 and a two-hundred day moving average of $266.46. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. The firm has a market cap of $78.27 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 4.67 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last released 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. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate 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 quarterly revenue 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. On average, analysts expect that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 59.80%.

Analysts Set New Price Targets

A number of analysts have recently commented on ITW shares. Wells Fargo & Company boosted their price objective on Illinois Tool Works from $245.00 to $255.00 and gave the company an “underweight” rating in a research report on Monday, May 4th. Truist Financial increased their target price on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Wolfe Research reissued an “underperform” rating and issued a $286.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Illinois Tool Works from $295.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Citigroup restated a “neutral” rating on shares of Illinois Tool Works in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Reduce” and an average target price of $274.00.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Jennifer F. Scanlon bought 806 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the purchase, the director directly owned 1,652 shares in the company, valued at $409,679.48. This trade represents a 95.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.

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.