Cullinan Associates Inc. Has $2.74 Million Stock Position in Illinois Tool Works Inc. $ITW

Cullinan Associates Inc. lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 24.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,526 shares of the industrial products company’s stock after selling 3,480 shares during the quarter. Cullinan Associates Inc.’s holdings in Illinois Tool Works were worth $2,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cresta Advisors Ltd. purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at $25,000. Motiv8 Investments LLC purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at $27,000. Kemnay Advisory Services Inc. acquired a new position in Illinois Tool Works during the fourth quarter valued at $27,000. Lodestone Wealth Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter worth about $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in Illinois Tool Works in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Jennifer F. Scanlon purchased 806 shares of Illinois Tool Works stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, with a total value of $199,879.94. Following the completion of the transaction, the director directly owned 1,652 shares of the company’s stock, valued at approximately $409,679.48. This represents a 95.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

Illinois Tool Works Stock Up 1.4%

ITW traded up $3.70 during midday trading on Friday, hitting $269.18. 1,119,475 shares of the company’s stock traded hands, compared to its average volume of 1,335,010. The company has a market cap of $77.44 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 4.62 and a beta of 1.00. The stock’s fifty day simple moving average is $258.05 and its 200-day simple moving average is $265.22. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.19 and a quick ratio of 0.86. Illinois Tool Works Inc. has a one year low of $238.82 and a one year high of $303.15.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.57 by $0.09. Illinois Tool Works had a net margin of 19.32% and a return on equity of 97.36%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the firm posted $2.38 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Illinois Tool Works has set its FY 2026 guidance at 11.100-11.500 EPS. As a group, equities analysts anticipate that Illinois Tool Works Inc. will post 11.37 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Analysts Set New Price Targets

Several research firms have weighed in on ITW. Barclays lowered their target price on Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Evercore lowered their price objective on shares of Illinois Tool Works from $296.00 to $272.00 in a research report on Monday, May 11th. The Goldman Sachs Group reiterated a “sell” rating and issued a $254.00 price objective on shares of Illinois Tool Works in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Illinois Tool Works from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Truist Financial boosted their price target on shares of Illinois Tool Works from $280.00 to $301.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $272.85.

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.