Fifth Third Bancorp Has $76.71 Million Position in Illinois Tool Works Inc. $ITW

Fifth Third Bancorp cut its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 294,181 shares of the industrial products company’s stock after selling 2,497 shares during the quarter. Fifth Third Bancorp’s holdings in Illinois Tool Works were worth $76,711,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Corsicana & Co. acquired a new position in shares of Illinois Tool Works in the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Illinois Tool Works in the 2nd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC boosted its stake in Illinois Tool Works by 103.3% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 124 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 63 shares during the period. True Wealth Design LLC increased its holdings in Illinois Tool Works by 341.9% during the 3rd quarter. True Wealth Design LLC now owns 137 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 106 shares in the last quarter. Finally, MTM Investment Management LLC raised its stake in shares of Illinois Tool Works by 70.5% in the 3rd quarter. MTM Investment Management LLC now owns 162 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 67 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITW shares. Citigroup increased their price objective on Illinois Tool Works from $271.00 to $284.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $250.00 to $270.00 and gave the company an “underweight” rating in a report on Wednesday, February 4th. Wolfe Research cut their price objective on shares of Illinois Tool Works from $278.00 to $276.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 4th. UBS Group reaffirmed a “neutral” rating and issued a $285.00 target price on shares of Illinois Tool Works in a research report on Wednesday, February 4th. Finally, Truist Financial increased their price objective on shares of Illinois Tool Works from $275.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $272.92.

Illinois Tool Works Stock Up 0.3%

Illinois Tool Works stock opened at $299.27 on Monday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.21 and a quick ratio of 0.89. The company’s 50-day moving average is $261.51 and its 200-day moving average is $257.07. The firm has a market capitalization of $86.82 billion, a PE ratio of 28.53, a P/E/G ratio of 16.05 and a beta of 1.15. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $303.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.03. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.07 billion. Illinois Tool Works had a net margin of 19.11% and a return on equity of 95.16%. Illinois Tool Works’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $2.54 EPS. Illinois Tool Works has set its FY 2026 guidance at 11.000-11.400 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 167,345 shares of Illinois Tool Works stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $290.93, for a total transaction of $48,685,680.85. Following the completion of the sale, the director owned 258,766 shares of the company’s stock, valued at approximately $75,282,792.38. The trade was a 39.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Axel Beck sold 4,223 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $290.22, for a total transaction of $1,225,599.06. Following the completion of the transaction, the executive vice president directly owned 5,789 shares in the company, valued at approximately $1,680,083.58. This represents a 42.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.88% 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.