Callan Family Office LLC Has $619,000 Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Callan Family Office LLC raised its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 90.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,443 shares of the industrial products company’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ITW. State Street Corp lifted its position in Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after purchasing an additional 149,272 shares during the period. Geode Capital Management LLC lifted its position in Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after purchasing an additional 167,422 shares during the period. Fisher Asset Management LLC lifted its position in Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after purchasing an additional 95,925 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Illinois Tool Works by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after purchasing an additional 32,607 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Illinois Tool Works by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock worth $634,797,000 after purchasing an additional 46,287 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays reduced their target price on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group increased their price objective 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. Evercore ISI dropped their price objective on Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective for the company in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $269.30.

Insider Activity at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 260,224 shares in the company, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Illinois Tool Works Stock Performance

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

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts predict that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Announces Dividend

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

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.