Illinois Tool Works Inc. (NYSE:ITW) Stake Raised by Callan Family Office LLC

Callan Family Office LLC boosted its holdings in Illinois Tool Works Inc. (NYSE:ITW) by 90.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,443 shares of the industrial products company’s stock after acquiring an additional 1,160 shares during the quarter. Callan Family Office LLC’s holdings in Illinois Tool Works were worth $619,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $33,000. Hager Investment Management Services LLC purchased a new position in Illinois Tool Works in the 4th quarter worth about $37,000. Finally, Asset Planning Inc purchased a new position in Illinois Tool Works in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Ernest Scott Santi sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

ITW has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. 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 note on Monday, February 3rd. Finally, Evercore ISI lowered their target price on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Trading Up 3.7 %

Shares of NYSE ITW opened at $274.89 on Monday. The stock has a market cap of $80.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 4.56 and a beta of 1.13. The business has a 50 day simple moving average of $257.54 and a 200 day simple moving average of $260.15. Illinois Tool Works Inc. has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. On average, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $6.00 annualized dividend and a yield of 2.18%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Illinois Tool Works Company 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.