Pinnacle Associates Ltd. Has $10.83 Million Stock Holdings in Illinois Tool Works Inc. $ITW

Pinnacle Associates Ltd. lowered its stake in Illinois Tool Works Inc. (NYSE:ITW) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,979 shares of the industrial products company’s stock after selling 2,275 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Illinois Tool Works were worth $10,832,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. AE Wealth Management LLC lifted its stake in Illinois Tool Works by 128.4% in the third quarter. AE Wealth Management LLC now owns 9,128 shares of the industrial products company’s stock valued at $2,380,000 after acquiring an additional 5,131 shares during the last quarter. Siemens Fonds Invest GmbH raised its holdings in shares of Illinois Tool Works by 70.1% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 18,226 shares of the industrial products company’s stock valued at $4,753,000 after purchasing an additional 7,508 shares during the period. Madison Asset Management LLC lifted its stake in Illinois Tool Works by 411.8% in the 3rd quarter. Madison Asset Management LLC now owns 87,875 shares of the industrial products company’s stock valued at $22,914,000 after purchasing an additional 70,704 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Illinois Tool Works by 10.4% in the 3rd quarter. Mediolanum International Funds Ltd now owns 103,161 shares of the industrial products company’s stock valued at $26,964,000 after purchasing an additional 9,738 shares during the last quarter. Finally, Huntleigh Advisors Inc. grew its holdings in Illinois Tool Works by 111.2% during the third quarter. Huntleigh Advisors Inc. now owns 16,276 shares of the industrial products company’s stock worth $4,244,000 after purchasing an additional 8,569 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on Illinois Tool Works from $284.00 to $287.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Evercore reduced their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday. Barclays decreased their price objective on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. Finally, Wolfe Research raised their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Reduce” and a consensus target price of $271.92.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $250.46 on Friday. The firm has a market cap of $72.06 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 4.30 and a beta of 1.04. The business’s 50 day moving average is $264.96 and its 200-day moving average is $262.01. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 2.04. Illinois Tool Works Inc. has a 1-year low of $238.82 and a 1-year high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.09. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 97.36% and a net margin of 19.32%.The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities research analysts predict that Illinois Tool Works Inc. will post 11.36 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

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.