Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,927 shares of the industrial products company’s stock after selling 7,696 shares during the quarter. Cullinan Associates Inc.’s holdings in Illinois Tool Works were worth $6,828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nikulski Financial Inc. raised its holdings in Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Baron Wealth Management LLC lifted its position in shares of Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after buying an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp increased its position in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the period. Finally, Harbour Investments Inc. lifted its stake in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 1.4 %

Shares of ITW opened at $255.58 on Tuesday. The business’s 50 day simple moving average is $262.05 and its 200-day simple moving average is $257.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market capitalization of $75.47 billion, a P/E ratio of 22.11, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $232.77 and a one year high of $279.13.

Analysts Set New Price Targets

A number of research firms recently weighed in on ITW. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus reduced their price objective on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Barclays decreased their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $272.67.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.