Illinois Tool Works Inc. (NYSE:ITW) issued its quarterly earnings data on Monday. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03, Bloomberg Earnings reports. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 15.24% and a return on equity of 45.02%. Illinois Tool Works’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. Illinois Tool Works updated its Q3 guidance to $1.57-1.67 EPS and its FY17 guidance to $6.32-6.52 EPS.

Illinois Tool Works (NYSE ITW) traded down 3.61% during midday trading on Monday, reaching $141.98. 3,224,829 shares of the company were exchanged. The company has a 50-day moving average of $145.53 and a 200 day moving average of $135.52. The firm has a market capitalization of $49.05 billion, a PE ratio of 23.85 and a beta of 1.12. Illinois Tool Works has a 52 week low of $111.50 and a 52 week high of $150.29.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a dividend of $0.65 per share. 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 is currently 43.70%.

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Several equities analysts recently commented on ITW shares. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Stifel Nicolaus lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating and lifted their target price for the company from $135.00 to $140.00 in a research report on Monday, March 27th. Credit Suisse Group set a $135.00 target price on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, April 12th. Deutsche Bank AG reiterated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of Illinois Tool Works in a research report on Saturday, April 29th. Finally, Barclays PLC lifted their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $148.69.

In other news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’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 transaction, the insider now owns 55,878 shares in the company, valued at approximately $8,046,432. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,850 shares of company stock valued at $30,245,971. 0.90% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Hudock Capital Group LLC raised its position in shares of Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after buying an additional 6 shares in the last quarter. Washington Trust Bank raised its position in shares of Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock valued at $140,000 after buying an additional 11 shares in the last quarter. Trust Co. of Virginia VA raised its position in shares of Illinois Tool Works by 0.4% in the first quarter. Trust Co. of Virginia VA now owns 3,865 shares of the industrial products company’s stock valued at $512,000 after buying an additional 15 shares in the last quarter. Marietta Wealth Management LLC raised its position in shares of Illinois Tool Works by 0.8% in the first quarter. Marietta Wealth Management LLC now owns 3,409 shares of the industrial products company’s stock valued at $452,000 after buying an additional 26 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Illinois Tool Works by 0.4% in the second quarter. CENTRAL TRUST Co now owns 6,767 shares of the industrial products company’s stock valued at $970,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

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.

Earnings History for Illinois Tool Works (NYSE:ITW)

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