PNC Financial Services Group Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.1%, selling 186,852 shares and now holding 971,532 shares valued at approximately $253.3 million. This move comes as the company slightly beat quarterly earnings estimates, with an EPS of $2.72 against an expected $2.69 and revenue of $4.09 billion compared to a $4.07 billion forecast, while FY2026 guidance was set at $11.00-$11.40 EPS. Analyst ratings for ITW are mixed, with a consensus “Reduce” rating and a target price of $272.92, despite a price target increase from JPMorgan Chase & Co. to $310.
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PNC Financial Services Group Inc. Sells 186,852 Shares of Illinois Tool Works Inc. $ITW
PNC Financial Services Group Inc. reduced its stake in Illinois Tool Works Inc. (NYSE:ITW) by 16.1%, selling 186,852 shares and now holding 971,532 shares valued at approximately $253.3 million. This move comes as the company slightly beat quarterly earnings estimates, with an EPS of $2.72 against an expected $2.69 and revenue of $4.09 billion compared to a $4.07 billion forecast, while FY2026 guidance was set at $11.00-$11.40 EPS. Analyst ratings for ITW are mixed, with a consensus “Reduce” rating and a target price of $272.92, despite a price target increase from JPMorgan Chase & Co. to $310.