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.
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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 (NYSE:ITW – Get Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.16. Illinois Tool Works had a return on equity of 75.41% and a net
margin of 17.44%. The business had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $3.98 billion. During the same period in the prior year, the business earned $2.10 EPS. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that Illinois Tool Works Inc. will post 9.08 EPS for the current year.
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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