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.
A number of equities research analysts recently commented on the company. BMO Capital Markets reiterated a buy rating and issued a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Morgan Stanley reiterated an equal weight rating and issued a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research upgraded Illinois Tool Works from a hold rating to a buy rating and set a $163.00 target price on the stock in a research report on Wednesday, July 12th. BidaskClub downgraded Illinois Tool Works from a strong-buy rating to a buy rating in a research report on Saturday, June 24th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $147.00 target price on shares of Illinois Tool Works in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $148.85.
Illinois Tool Works Inc. (NYSE:ITW) opened at 141.98 on Tuesday. The company has a market cap of $49.05 billion, a PE ratio of 23.85 and a beta of 1.12. Illinois Tool Works Inc. has a 52 week low of $111.50 and a 52 week high of $150.29. The company has a 50-day moving average price of $145.59 and a 200 day moving average price of $135.95.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.24% and a return on equity of 45.02%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Illinois Tool Works Inc. will post $6.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were given a $0.65 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 43.70%.
In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at $8,046,432. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John R. Hartnett sold 13,889 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $139.27, for a total transaction of $1,934,321.03. Following the completion of the sale, the insider now directly owns 25,978 shares of the company’s stock, valued at $3,617,956.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,850 shares of company stock valued at $30,245,971. 0.90% of the stock is owned by corporate insiders.
About Illinois Tool Works
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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