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

Cullinan Associates Inc. decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 24.8% in the 1st quarter, Holdings Channel.com reports. 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 filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its position in Illinois Tool Works by 3.8% during the first quarter. Citizens Financial Group Inc. RI now owns 7,472 shares of the industrial products company’s stock worth $1,955,000 after acquiring an additional 277 shares during the period. Fifth Third Bancorp lifted its stake in shares of Illinois Tool Works by 16.9% in the first quarter. Fifth Third Bancorp now owns 329,056 shares of the industrial products company’s stock valued at $85,650,000 after buying an additional 47,585 shares during the period. Sovran Advisors LLC raised its stake in shares of Illinois Tool Works by 10.5% in the first quarter. Sovran Advisors LLC now owns 1,637 shares of the industrial products company’s stock valued at $422,000 after purchasing an additional 156 shares in the last quarter. Petix & Botte Co acquired a new position in shares of Illinois Tool Works in the first quarter valued at $207,000. Finally, Sequoia Financial Advisors LLC increased its holdings in Illinois Tool Works by 10.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,152 shares of the industrial products company’s stock valued at $2,903,000 after buying an additional 1,081 shares during the period. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Trading Up 1.4%

NYSE:ITW traded up $3.70 during trading hours on Friday, hitting $269.18. 1,119,475 shares of the stock were exchanged, compared to its average volume of 1,335,010. The company has a market capitalization of $77.44 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 4.62 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 1.19 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $258.05 and its two-hundred day moving average is $265.22. Illinois Tool Works Inc. has a twelve month low of $238.82 and a twelve month high of $303.15.

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

Illinois Tool Works Dividend Announcement

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. The ex-dividend date was Tuesday, June 30th. This represents a $6.44 dividend on an annualized basis and a yield of 2.4%. Illinois Tool Works’s dividend payout ratio is presently 59.80%.

Insider Activity

In other Illinois Tool Works news, Director Jennifer F. Scanlon purchased 806 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $247.99 per share, for a total transaction of $199,879.94. Following the transaction, the director directly owned 1,652 shares in the company, valued at $409,679.48. This represents a 95.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ITW. JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $303.00 to $295.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Evercore lowered their target price on shares of Illinois Tool Works from $296.00 to $272.00 in a report on Monday, May 11th. Barclays dropped their target price on shares of Illinois Tool Works from $275.00 to $250.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group restated a “sell” rating and issued a $254.00 price target on shares of Illinois Tool Works in a research report on Thursday, April 30th. Finally, Truist Financial upped their price objective on shares of Illinois Tool Works from $280.00 to $301.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Illinois Tool Works has a consensus rating of “Reduce” and a consensus 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.