Bank of New York Mellon Corp Has $584.78 Million Holdings in Illinois Tool Works Inc. $ITW

Bank of New York Mellon Corp boosted its stake in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,374,268 shares of the industrial products company’s stock after purchasing an additional 40,503 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Illinois Tool Works worth $584,782,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ITW. Cresta Advisors Ltd. acquired a new position in Illinois Tool Works during the 4th quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $28,000. Beacon Financial Strategies CORP acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $29,000. Ares Financial Consulting LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $31,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $32,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Stock Up 0.8%

ITW opened at $250.62 on Thursday. The firm’s 50-day simple moving average is $259.23 and its 200-day simple moving average is $262.48. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.86 and a current ratio of 1.19. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15. The firm has a market cap of $72.10 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.27 and a beta of 1.01.

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, topping 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 prior year, the firm earned $2.38 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities research analysts anticipate that Illinois Tool Works Inc. will post 11.37 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.61 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.44 annualized dividend and a dividend yield of 2.6%. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Wall Street Analysts Forecast Growth

ITW has been the subject of a number of recent research reports. Wells Fargo & Company increased 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 note on Monday, May 4th. Weiss Ratings cut shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. UBS Group restated a “neutral” rating and issued a $285.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Citigroup increased their price objective 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. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Reduce” and an average price target of $271.92.

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.