Calamos Advisors LLC Has $11.88 Million Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Calamos Advisors LLC cut its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,132 shares of the industrial products company’s stock after selling 1,087 shares during the quarter. Calamos Advisors LLC’s holdings in Illinois Tool Works were worth $11,879,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kanawha Capital Management LLC boosted its holdings in Illinois Tool Works by 0.5% in the second quarter. Kanawha Capital Management LLC now owns 88,540 shares of the industrial products company’s stock valued at $13,353,000 after purchasing an additional 442 shares during the last quarter. Arjuna Capital boosted its holdings in Illinois Tool Works by 1.0% in the second quarter. Arjuna Capital now owns 13,709 shares of the industrial products company’s stock valued at $2,067,000 after purchasing an additional 134 shares during the last quarter. Pinebridge Investments L.P. boosted its holdings in Illinois Tool Works by 818.3% in the second quarter. Pinebridge Investments L.P. now owns 3,205 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 2,856 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Illinois Tool Works by 76.0% in the second quarter. Private Advisor Group LLC now owns 36,641 shares of the industrial products company’s stock valued at $5,526,000 after purchasing an additional 15,824 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Illinois Tool Works by 2.6% in the second quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock valued at $3,935,459,000 after purchasing an additional 659,248 shares during the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 152,594 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $169.05, for a total transaction of $25,796,015.70. Following the sale, the chief executive officer now owns 150,922 shares in the company, valued at $25,513,364.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Zimmerman sold 6,600 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $172.43, for a total value of $1,138,038.00. Following the sale, the executive vice president now owns 13,590 shares in the company, valued at approximately $2,343,323.70. The disclosure for this sale can be found here. Insiders have sold 245,669 shares of company stock worth $41,624,681 in the last 90 days. 0.87% of the stock is currently owned by insiders.

ITW has been the subject of a number of analyst reports. Credit Suisse Group increased their price target on Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Citigroup reduced their price target on Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Co increased their price target on Illinois Tool Works from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday. Goldman Sachs Group downgraded Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target for the company. in a report on Monday, September 23rd. They noted that the move was a valuation call. Finally, Argus set a $180.00 price target on Illinois Tool Works and gave the company a “buy” rating in a report on Friday, October 25th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $152.64.

Shares of NYSE ITW opened at $178.41 on Thursday. The stock’s 50 day moving average price is $177.71 and its two-hundred day moving average price is $162.05. Illinois Tool Works Inc. has a 52-week low of $129.44 and a 52-week high of $182.34. The stock has a market capitalization of $57.42 billion, a P/E ratio of 23.48, a PEG ratio of 2.96 and a beta of 1.21. The company has a quick ratio of 2.27, a current ratio of 2.81 and a debt-to-equity ratio of 2.57.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, October 25th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.10. Illinois Tool Works had a return on equity of 80.38% and a net margin of 17.49%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Illinois Tool Works’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works Inc. will post 7.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, December 30th. Illinois Tool Works’s payout ratio is currently 56.32%.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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