Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its position in Illinois Tool Works Inc. (NYSE:ITW) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 68,067 shares of the industrial products company’s stock after selling 889 shares during the period. Calamos Advisors LLC’s holdings in Illinois Tool Works were worth $17,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cibc World Market Inc. boosted its position in Illinois Tool Works by 3.7% during the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock worth $2,024,000 after acquiring an additional 348 shares during the period. Cetera Investment Advisers boosted its position in Illinois Tool Works by 4.2% during the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock worth $1,899,000 after acquiring an additional 368 shares during the period. Sequoia Financial Advisors LLC boosted its position in Illinois Tool Works by 54.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock worth $599,000 after acquiring an additional 1,011 shares during the period. Zions Bancorporation N.A. boosted its position in Illinois Tool Works by 9.9% during the 1st quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 217 shares during the period. Finally, Covestor Ltd boosted its position in Illinois Tool Works by 70.7% during the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the completion of the sale, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael M. Larsen sold 37,167 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares of the company’s stock, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Illinois Tool Works Stock Up 0.4 %

Shares of ITW stock traded up $1.03 on Friday, reaching $249.86. 108,371 shares of the company’s stock traded hands, compared to its average volume of 1,227,713. 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 company has a market capitalization of $74.64 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 3.67 and a beta of 1.13. The business’s 50 day moving average price is $260.64 and its two-hundred day moving average price is $250.65.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.12 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, March 29th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.49%.

Analysts Set New Price Targets

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

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.