OMC Financial Services LTD Invests $577,000 in Illinois Tool Works Inc. (NYSE:ITW)

OMC Financial Services LTD acquired a new position in Illinois Tool Works Inc. (NYSE:ITW) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,150 shares of the industrial products company’s stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at about $26,000. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at $26,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Security National Bank acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $29,000. 79.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ITW shares. Citigroup boosted their price target on Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday. Truist Financial lowered their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $248.67.

Insider Buying and Selling

In related news, Director David Byron Smith, Jr. purchased 775 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by insiders.

Illinois Tool Works Stock Performance

Shares of ITW stock traded up $1.59 on Friday, reaching $243.85. The stock had a trading volume of 1,281,644 shares, compared to its average volume of 1,134,753. Illinois Tool Works Inc. has a 12 month low of $217.50 and a 12 month high of $271.15. The company has a quick ratio of 0.94, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $72.76 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.80 and a beta of 1.10. The firm’s 50-day moving average is $240.94 and its two-hundred day moving average is $251.06.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $2.41 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts expect that Illinois Tool Works Inc. will post 10.25 EPS for the current fiscal year.

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.