Beacon Investment Advisory Services Inc. raised its position in shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 133,131 shares of the industrial products company's stock after purchasing an additional 378 shares during the quarter. Illinois Tool Works accounts for approximately 1.3% of Beacon Investment Advisory Services Inc.'s holdings, making the stock its 22nd biggest position. Beacon Investment Advisory Services Inc.'s holdings in Illinois Tool Works were worth $24,263,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Janney Capital Management LLC grew its stake in shares of Illinois Tool Works by 3.8% during the 1st quarter. Janney Capital Management LLC now owns 1,380 shares of the industrial products company's stock valued at $289,000 after purchasing an additional 50 shares during the period. Shoker Investment Counsel Inc. lifted its position in shares of Illinois Tool Works by 0.6% during the 1st quarter. Shoker Investment Counsel Inc. now owns 8,149 shares of the industrial products company's stock valued at $1,706,000 after buying an additional 51 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Illinois Tool Works by 3.6% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,512 shares of the industrial products company's stock valued at $317,000 after buying an additional 52 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of Illinois Tool Works by 3.5% during the 1st quarter. CWA Asset Management Group LLC now owns 1,617 shares of the industrial products company's stock valued at $339,000 after buying an additional 54 shares in the last quarter. Finally, Brick & Kyle Associates lifted its position in shares of Illinois Tool Works by 0.3% during the 4th quarter. Brick & Kyle Associates now owns 17,786 shares of the industrial products company's stock valued at $4,390,000 after buying an additional 57 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors.

Illinois Tool Works Trading Down 0.6 %

Illinois Tool Works stock traded down $1.09 during mid-day trading on Friday, hitting $182.79. The company's stock had a trading volume of 22,900 shares, compared to its average volume of 1,175,807. The company has a 50 day moving average of $201.56 and a 200-day moving average of $199.84. The stock has a market cap of $56.60 billion, a PE ratio of 21.81, a P/E/G ratio of 2.60 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.02 and a current ratio of 1.48. Illinois Tool Works Inc. has a one year low of $173.52 and a one year high of $249.81.

Illinois Tool Works Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 2.87%. This is a boost from Illinois Tool Works's previous quarterly dividend of $1.22. The ex-dividend date is Thursday, September 29th. Illinois Tool Works's dividend payout ratio is currently 57.89%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Credit Suisse Group boosted their price target on Illinois Tool Works from $225.00 to $229.00 and gave the stock an "outperform" rating in a report on Wednesday, August 3rd. StockNews.com cut Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Tuesday. Robert W. Baird set a $213.00 price target on Illinois Tool Works in a report on Tuesday, August 2nd. Jefferies Financial Group reduced their price objective on Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Finally, Barclays reduced their price objective on Illinois Tool Works from $180.00 to $167.00 and set an "underweight" rating on the stock in a research note on Friday, July 8th. Three equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $202.00.

Illinois Tool Works Company Profile

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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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