Cullinan Associates Inc. Sells 4,164 Shares of Illinois Tool Works Inc. $ITW

Cullinan Associates Inc. reduced its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 15.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,101 shares of the industrial products company’s stock after selling 4,164 shares during the period. Cullinan Associates Inc.’s holdings in Illinois Tool Works were worth $5,763,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Modern Wealth Management LLC grew its position in shares of Illinois Tool Works by 8.3% in the 1st quarter. Modern Wealth Management LLC now owns 848 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 65 shares during the period. Davis Capital Management acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $1,162,000. Brendel Financial Advisors LLC grew its holdings in Illinois Tool Works by 1,328.6% during the third quarter. Brendel Financial Advisors LLC now owns 13,929 shares of the industrial products company’s stock worth $3,632,000 after purchasing an additional 12,954 shares during the period. Illinois Municipal Retirement Fund increased its position in Illinois Tool Works by 39.5% during the second quarter. Illinois Municipal Retirement Fund now owns 67,439 shares of the industrial products company’s stock worth $16,674,000 after buying an additional 19,102 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its stake in Illinois Tool Works by 16.3% in the second quarter. Level Four Advisory Services LLC now owns 11,680 shares of the industrial products company’s stock valued at $2,888,000 after buying an additional 1,638 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ITW. Robert W. Baird set a $265.00 target price on Illinois Tool Works in a research note on Monday, October 27th. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Illinois Tool Works from $265.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, October 2nd. Bank of America upgraded shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $220.00 to $255.00 in a research note on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Illinois Tool Works in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $259.67.

Illinois Tool Works Stock Up 0.8%

ITW stock opened at $256.67 on Wednesday. Illinois Tool Works Inc. has a fifty-two week low of $214.66 and a fifty-two week high of $278.13. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.53 and a quick ratio of 1.11. The stock has a market capitalization of $74.46 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 10.56 and a beta of 1.15. The business’s fifty day moving average price is $249.16 and its two-hundred day moving average price is $254.64.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Friday, October 24th. The industrial products company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.72 by $0.09. Illinois Tool Works had a net margin of 19.05% and a return on equity of 93.26%. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the company posted $3.91 earnings per share. Illinois Tool Works’s revenue was up 2.3% compared to the same quarter last year. Illinois Tool Works has set its FY 2025 guidance at 10.400-10.500 EPS. On average, equities analysts anticipate that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.44 annualized dividend and a dividend yield of 2.5%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 62.46%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director Pamela B. Strobel sold 1,521 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $245.25, for a total value of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at approximately $9,625,817.25. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Company Profile

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.