Callan Capital LLC Cuts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Callan Capital LLC trimmed its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,108 shares of the industrial products company’s stock after selling 433 shares during the quarter. Callan Capital LLC’s holdings in Illinois Tool Works were worth $552,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ITW. Cornerstone Wealth Management LLC grew its stake in shares of Illinois Tool Works by 2.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after buying an additional 41 shares during the period. Nicolet Advisory Services LLC grew its stake in shares of Illinois Tool Works by 4.5% in the 3rd quarter. Nicolet Advisory Services LLC now owns 1,066 shares of the industrial products company’s stock valued at $247,000 after buying an additional 46 shares during the period. PFG Advisors grew its stake in shares of Illinois Tool Works by 0.7% in the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock valued at $1,743,000 after buying an additional 46 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of Illinois Tool Works by 1.3% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,635 shares of the industrial products company’s stock valued at $952,000 after buying an additional 46 shares during the period. Finally, Mcdonald Partners LLC grew its stake in shares of Illinois Tool Works by 1.0% in the 3rd quarter. Mcdonald Partners LLC now owns 4,796 shares of the industrial products company’s stock valued at $1,104,000 after buying an additional 47 shares during the period. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.0 %

Illinois Tool Works stock traded up $0.07 during mid-day trading on Friday, reaching $248.23. 947,179 shares of the company’s stock were exchanged, compared to its average volume of 1,241,645. The company has a market cap of $74.16 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.70 and a beta of 1.13. Illinois Tool Works Inc. has a twelve month low of $217.06 and a twelve month high of $271.15. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The company has a fifty day moving average of $260.04 and a 200-day moving average of $251.37.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 EPS. Sell-side analysts expect that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Illinois Tool Works’s payout ratio is 57.49%.

Analyst Upgrades and Downgrades

ITW has been the subject of several analyst reports. Barclays increased their price target on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Truist Financial started coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Bank of America cut shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Finally, Citigroup increased their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $257.00.

Insider Activity

In other news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total value of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon Szafranski sold 801 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is currently owned by corporate insiders.

About Illinois Tool Works

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.