Illinois Tool Works Inc. $ITW Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Illinois Tool Works Inc. (NYSE:ITW) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,295,734 shares of the industrial products company’s stock after selling 78,534 shares during the period. Bank of New York Mellon Corp owned approximately 0.80% of Illinois Tool Works worth $597,557,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Cresta Advisors Ltd. acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth $25,000. Motiv8 Investments LLC purchased a new position in Illinois Tool Works during the fourth quarter worth about $27,000. Kemnay Advisory Services Inc. purchased a new position in Illinois Tool Works during the fourth quarter worth about $27,000. Lodestone Wealth Management LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at about $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in Illinois Tool Works in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $282.99 on Friday. 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 company’s 50-day moving average price is $259.45 and its 200 day moving average price is $265.96. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.66 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $2.38 earnings per share. 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. As a group, research analysts forecast that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend 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 Transactions at Illinois Tool Works

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

Wall Street Analyst Weigh In

ITW has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a “sell” rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. Truist Financial lifted their price target on Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Weiss Ratings lowered Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Barclays cut their price objective on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Illinois Tool Works has an average rating of “Reduce” and an average price target of $274.00.

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.