OmniStar Financial Group Inc. Grows Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

OmniStar Financial Group Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 5.3% in the third quarter, Holdings Channel reports. The fund owned 4,294 shares of the industrial products company’s stock after buying an additional 216 shares during the quarter. OmniStar Financial Group Inc.’s holdings in Illinois Tool Works were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITW. Invesco Ltd. boosted its holdings in Illinois Tool Works by 179.7% in the 2nd quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock worth $322,590,000 after acquiring an additional 1,374,150 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Illinois Tool Works by 6,875.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,237,183 shares of the industrial products company’s stock valued at $186,579,000 after buying an additional 1,219,446 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Illinois Tool Works by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock valued at $3,935,459,000 after buying an additional 659,248 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of Illinois Tool Works by 15,116.7% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after buying an additional 656,821 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Illinois Tool Works by 3.0% during the 2nd quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock valued at $3,053,058,000 after buying an additional 581,489 shares during the last quarter. Hedge funds and other institutional investors own 77.46% of the company’s stock.

In related news, CFO Michael M. Larsen sold 35,617 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $159.61, for a total transaction of $5,684,829.37. Following the transaction, the chief financial officer now directly owns 38,726 shares in the company, valued at $6,181,056.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total value of $1,492,000.00. Following the transaction, the insider now owns 16,315 shares in the company, valued at $2,610,400. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock worth $25,172,163 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

ITW traded up $4.63 during trading hours on Friday, hitting $154.53. 1,602,706 shares of the stock were exchanged, compared to its average volume of 1,315,474. The stock has a 50-day simple moving average of $152.14 and a 200-day simple moving average of $150.96. Illinois Tool Works Inc. has a 12 month low of $117.75 and a 12 month high of $161.71. The stock has a market cap of $47.36 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.22. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.87 and a quick ratio of 2.30.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts expect that Illinois Tool Works Inc. will post 7.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were paid a dividend of $1.07 per share. The ex-dividend date was Friday, September 27th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 annualized dividend and a yield of 2.77%. Illinois Tool Works’s dividend payout ratio (DPR) is 56.32%.

Several equities analysts have recently commented on ITW shares. Credit Suisse Group increased their target price on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. UBS Group increased their target price on Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their target price on Illinois Tool Works from $143.00 to $154.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Goldman Sachs Group cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 target price for the company. in a research note on Monday, September 23rd. They noted that the move was a valuation call. Finally, Northcoast Research cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a research note on Wednesday, June 26th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $142.44.

About Illinois Tool Works

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.

Recommended Story: What are no-load funds?

Want to see what other hedge funds are holding ITW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illinois Tool Works Inc. (NYSE:ITW).

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.