First Citizens Bank & Trust Co. Sells 16,895 Shares of Illinois Tool Works Inc. $ITW

Key Points

• First Citizens Bank & Trust reduced its Illinois Tool Works stake by 18.8%, selling 16,895 shares and retaining 72,764 shares valued at approximately $18.7 million. Institutional investors collectively own 79.77% of ITW.
• ITW reported quarterly revenue of $4.30 billion and EPS of $2.84, exceeding analyst expectations, while revenue increased 6.1% year over year. The company also raised its quarterly dividend to $1.72, equivalent to a 2.6% annualized yield.
• Analyst sentiment remains cautious: JPMorgan downgraded ITW to Neutral and cut its price target to $270, contributing to an overall “Reduce” consensus rating and a $273.42 average target price.

First Citizens Bank & Trust Co. cut its stake in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,764 shares of the industrial products company's stock after selling 16,895 shares during the period. First Citizens Bank & Trust Co.'s holdings in Illinois Tool Works were worth $18,721,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ITW. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth $5,017,000. Sanctuary Advisors LLC bought a new position in Illinois Tool Works in the second quarter valued at about $14,028,000. Cibc World Market Inc. acquired a new position in Illinois Tool Works during the second quarter worth about $3,887,000. Sapient Capital LLC lifted its holdings in shares of Illinois Tool Works by 227.7% in the second quarter. Sapient Capital LLC now owns 13,611 shares of the industrial products company's stock worth $3,703,000 after acquiring an additional 9,457 shares during the last quarter. Finally, Fidelity National Financial Inc. bought a new position in shares of Illinois Tool Works in the second quarter worth about $20,583,000. 79.77% of the stock is currently owned by institutional investors.

Trending Headlines about Illinois Tool Works

Here are the key news stories impacting Illinois Tool Works this week:

• Positive Sentiment: Zacks raised several 2026–2027 estimates. Zacks lifted its FY2026 EPS forecast to $11.42 from $11.40, FY2027 to $12.37 from $12.27, and made small increases to estimates for Q3 2026, Q4 2026, Q1 2027 and Q3–Q4 2027. These revisions suggest modestly improving expectations for ITW’s near-term operating performance.
• Neutral Sentiment: Corporate recognition and innovation discussion provide limited direct stock catalysts. ITW was honored at an Adler Planetarium gala that raised $1.2 million, while a separate article examined whether the company’s innovation initiatives could benefit from an industrial upturn. Neither item included a material financial announcement. Adler Planetarium Gala Pulls In $1.2M as ITW Is Honored
• Negative Sentiment: JPMorgan downgraded ITW to Neutral from Overweight and cut its price target to $277 from $350. The sharply lower target indicates reduced confidence in the stock’s upside and is the clearest negative catalyst in the recent news flow. JPMorgan Downgrades Illinois Tool Works to Neutral From Overweight, Cuts Price Target
• Negative Sentiment: Zacks reduced its 2028 earnings forecasts. Q1 2028 EPS was lowered to $2.99 from $3.04, Q2 to $3.31 from $3.44, Q3 to $3.52 from $3.56, and FY2028 to $13.33 from $13.60. The cuts point to somewhat weaker longer-term growth expectations, although FY2028 EPS remains above the current-year consensus of $11.42.

Insiders Place Their Bets

In other news, Director Ernest Santi sold 41,431 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $287.09, for a total transaction of $11,894,425.79. Following the transaction, the director owned 266,288 shares of the company's stock, valued at $76,448,621.92. This represents a 13.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matteo C. Pigozzo sold 277 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $289.22, for a total transaction of $80,113.94. Following the sale, the chief accounting officer directly owned 3,394 shares in the company, valued at approximately $981,612.68. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $266.42 on Wednesday. The company has a market cap of $75.88 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.96. Illinois Tool Works Inc. has a 52 week low of $238.82 and a 52 week high of $303.15. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average of $275.03 and a 200-day moving average of $268.21.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.80 by $0.04. Illinois Tool Works had a return on equity of 101.72% and a net margin of 19.39%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the business earned $2.58 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. Illinois Tool Works has set its FY 2026 guidance at 11.350-11.550 EPS. On average, equities analysts forecast that Illinois Tool Works Inc. will post 11.42 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were issued a $1.72 dividend. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.61. This represents a $6.88 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Illinois Tool Works's dividend payout ratio is currently 62.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on ITW. JPMorgan Chase & Co. lowered shares of Illinois Tool Works from an "overweight" rating to a "neutral" rating and cut their target price for the company from $350.00 to $270.00 in a research report on Friday, October 9th. Robert W. Baird upped their price target on shares of Illinois Tool Works from $278.00 to $297.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Illinois Tool Works from $287.00 to $281.00 and set a "hold" rating on the stock in a research report on Wednesday, September 30th. Wolfe Research reaffirmed an "underperform" rating and issued a $286.00 target price on shares of Illinois Tool Works in a report on Thursday, July 9th. Finally, Truist Financial dropped their target price on Illinois Tool Works from $308.00 to $297.00 and set a "hold" rating for the company in a research report on Monday, October 5th. One analyst has 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. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Reduce" and a consensus target price of $273.42.

Illinois Tool Works Company Profile

Illinois Tool Works Inc NYSE: ITW is a diversified industrial manufacturer that develops and produces engineered products and systems for customers worldwide. The company serves a broad range of end markets, including automotive, construction, food service, welding, electronics, and general industry.

ITW's product portfolio includes automotive components and fasteners, commercial food equipment, welding equipment and consumables, test and measurement instruments, electronic components, polymers and fluids, construction fastening systems, and other specialized industrial products.

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