Bank of New York Mellon Corp Buys 40,503 Shares of 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% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,374,268 shares of the industrial products company’s stock after acquiring an additional 40,503 shares during the quarter. Bank of New York Mellon Corp’s holdings in Illinois Tool Works were worth $584,782,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in Illinois Tool Works by 11.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company’s stock worth $815,587,000 after acquiring an additional 353,056 shares during the last quarter. Westpac Banking Corp grew its holdings in Illinois Tool Works by 4.2% during the 4th quarter. Westpac Banking Corp now owns 24,640 shares of the industrial products company’s stock worth $6,069,000 after acquiring an additional 1,001 shares during the last quarter. Peak Retirement Planning Inc. grew its holdings in Illinois Tool Works by 22.2% during the 4th quarter. Peak Retirement Planning Inc. now owns 8,307 shares of the industrial products company’s stock worth $2,046,000 after acquiring an additional 1,510 shares during the last quarter. Beto Financial Group LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $1,220,000. Finally, Crestmont Private Wealth LLC grew its holdings in Illinois Tool Works by 7.5% during the 4th quarter. Crestmont Private Wealth LLC now owns 3,806 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 266 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

Analysts Set New Price Targets

ITW has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Monday, May 4th. Barclays reduced their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Evercore reduced their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a research note on Monday, May 11th. Wolfe Research raised their target price on shares of Illinois Tool Works from $276.00 to $295.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. Finally, Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $271.92.

Illinois Tool Works Stock Up 0.8%

Shares of NYSE ITW opened at $250.62 on Thursday. The firm has a market capitalization of $72.10 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 4.27 and a beta of 1.01. 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. The firm’s 50-day moving average is $259.23 and its 200-day moving average is $262.48.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 19.32% and a return on equity of 97.36%. Illinois Tool Works’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.38 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. Equities analysts expect that Illinois Tool Works Inc. will post 11.37 EPS for the current year.

Illinois Tool Works Announces Dividend

The company 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 $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.80%.

About Illinois Tool Works

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.