Beacon Investment Advisory Services Inc. Lowers Stock Position in Illinois Tool Works Inc. (NYSE:ITW)

Beacon Investment Advisory Services Inc. lowered its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW) by 0.8% in the third quarter, Holdings Channel reports. The firm owned 132,508 shares of the industrial products company’s stock after selling 1,008 shares during the quarter. Illinois Tool Works accounts for 1.4% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 23rd biggest holding. Beacon Investment Advisory Services Inc.’s holdings in Illinois Tool Works were worth $34,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ITW. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the second quarter worth approximately $30,000. Fairscale Capital LLC purchased a new position in Illinois Tool Works during the 2nd quarter worth $30,000. True Wealth Design LLC raised its position in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the third quarter worth about $32,000. Finally, Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works during the third quarter worth about $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Trading Up 0.5 %

Illinois Tool Works stock opened at $277.52 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm’s 50-day moving average is $264.35 and its 200-day moving average is $250.78. Illinois Tool Works Inc. has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a market cap of $81.95 billion, a P/E ratio of 24.01, a PEG ratio of 4.30 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company earned $2.55 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works Inc. will post 10.13 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. Illinois Tool Works’s dividend payout ratio (DPR) is 51.90%.

Analyst Ratings Changes

Several equities analysts have issued reports on ITW shares. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Stifel Nicolaus raised their target price on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $257.30.

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.