Penobscot Investment Management Company Inc. reduced its holdings in Illinois Tool Works Inc. by 5.3% in the second quarter, selling 1,480 shares. Despite the decrease, the firm still retains 26,567 shares in the industrial products company.

Illinois Tool Works has been underperforming the Dow Jones Industrial Average over the past year, prompting caution among market watchers. This article examines the stock’s lagging performance and the reservations analysts share about its future.