Illinois Tool Works Inc. (NYSE:ITW) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $6.32-6.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.38. Illinois Tool Works also updated its Q3 guidance to $1.57-1.67 EPS.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Illinois Tool Works from a buy rating to a hold rating in a report on Monday, July 31st. Morgan Stanley restated an equal weight rating and issued a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. J P Morgan Chase & Co downgraded shares of Illinois Tool Works from a neutral rating to an underweight rating and set a $132.00 target price on the stock. in a research note on Thursday. Citigroup Inc. boosted their target price on shares of Illinois Tool Works from $143.00 to $161.00 and gave the company a buy rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus reiterated a hold rating and set a $147.00 price target on shares of Illinois Tool Works in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Illinois Tool Works currently has a consensus rating of Hold and a consensus target price of $151.08.
Illinois Tool Works Inc. (NYSE:ITW) traded down 0.38% during mid-day trading on Friday, reaching $135.67. The company had a trading volume of 1,123,747 shares. The firm has a market capitalization of $46.69 billion, a P/E ratio of 21.95 and a beta of 1.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $150.29. The firm’s 50-day moving average is $142.53 and its 200-day moving average is $137.77.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. On average, equities research analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, September 28th. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a yield of 2.30%. Illinois Tool Works’s payout ratio is 42.07%.
In other news, CFO Michael M. Larsen sold 52,447 shares of Illinois Tool Works stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $140.62, for a total value of $7,375,097.14. Following the sale, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares in the company, valued at $3,455,701.44. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock worth $14,329,625 over the last quarter. 0.90% of the stock is owned by company insiders.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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