Bank of America Corp DE Boosts Holdings in Illinois Tool Works Inc. $ITW

Key Points

• Bank of America increased its Illinois Tool Works stake by 2.5% in the first quarter, bringing its holdings to 3.01 million shares valued at approximately $782.3 million. Institutional investors collectively own 79.77% of ITW.
• Illinois Tool Works reported quarterly EPS of $2.84, exceeding estimates of $2.80, while revenue rose 6.1% year over year to $4.30 billion. The company maintained fiscal 2026 EPS guidance of $11.35–$11.55.
• ITW pays a quarterly dividend of $1.61, equivalent to an annualized $6.44 and a 2.2% yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a consensus price target of $281.25.

Bank of America Corp DE lifted its position in Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,005,659 shares of the industrial products company's stock after acquiring an additional 72,951 shares during the quarter. Bank of America Corp DE owned 1.04% of Illinois Tool Works worth $782,343,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $808,351,000. Auto Owners Insurance Co lifted its stake in shares of Illinois Tool Works by 24,530.0% during the 4th quarter. Auto Owners Insurance Co now owns 628,065 shares of the industrial products company's stock worth $15,469,000 after acquiring an additional 625,515 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Illinois Tool Works by 442.5% during the 1st quarter. Renaissance Technologies LLC now owns 659,840 shares of the industrial products company's stock worth $171,750,000 after acquiring an additional 538,200 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Illinois Tool Works by 1,517.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 390,022 shares of the industrial products company's stock valued at $96,062,000 after acquiring an additional 365,915 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Illinois Tool Works by 11.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,311,357 shares of the industrial products company's stock valued at $815,587,000 after acquiring an additional 353,056 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $287.51 on Friday. Illinois Tool Works Inc. has a 12-month low of $238.82 and a 12-month high of $303.15. The business's fifty day simple moving average is $266.31 and its 200-day simple moving average is $268.26. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 2.26. The company has a market cap of $82.72 billion, a PE ratio of 26.07, a PEG ratio of 4.83 and a beta of 1.00.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.80 by $0.04. Illinois Tool Works had a net margin of 19.39% and a return on equity of 101.72%. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. Analysts expect that Illinois Tool Works Inc. will post 11.47 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a $1.61 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.2%. Illinois Tool Works's payout ratio is currently 58.39%.

Analyst Ratings Changes

ITW has been the topic of several recent analyst reports. Truist Financial raised their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Citigroup restated a "neutral" rating on shares of Illinois Tool Works in a research note on Monday, July 13th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $254.00 target price on shares of Illinois Tool Works in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $310.00 to $350.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wolfe Research reiterated an "underperform" rating and issued a $286.00 price target on shares of Illinois Tool Works in a report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $281.25.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $247.99 per share, with a total value of $199,879.94. Following the completion of the purchase, the director owned 1,652 shares in the company, valued at approximately $409,679.48. This represents a 95.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.83% of the company's stock.

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.

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.