Callan Capital LLC Sells 433 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Callan Capital LLC decreased its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 17.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,108 shares of the industrial products company’s stock after selling 433 shares during the period. Callan Capital LLC’s holdings in Illinois Tool Works were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Briaud Financial Planning Inc acquired a new position in Illinois Tool Works during the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $26,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $29,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $29,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE:ITW traded up $0.07 during trading hours on Friday, reaching $248.23. The stock had a trading volume of 947,179 shares, compared to its average volume of 1,241,645. The stock has a market cap of $74.16 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.70 and a beta of 1.13. Illinois Tool Works Inc. has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. The stock has a 50 day simple moving average of $260.04 and a 200 day simple moving average of $251.37.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 earnings per share. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Insider Activity

In related news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the completion of the transaction, the chairman now directly owns 221,015 shares in the company, valued at $56,321,252.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the sale, the chairman now directly owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITW. Truist Financial began coverage on Illinois Tool Works in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Citigroup increased their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Barclays increased their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Stifel Nicolaus increased their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $257.00.

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.