Illinois Tool Works Inc. (NYSE:ITW) Issues FY17 Earnings Guidance
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 research firms have recently issued reports on ITW. BMO Capital Markets restated a buy rating and issued a $160.00 price target on shares of Illinois Tool Works in a research report on Thursday. Stifel Nicolaus restated a hold rating and issued a $147.00 price target on shares of Illinois Tool Works in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Illinois Tool Works from a hold rating to a buy rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. Morgan Stanley restated an equal weight rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Finally, BidaskClub downgraded shares of Illinois Tool Works from a strong-buy rating to a buy rating in a research report on Saturday, June 24th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Illinois Tool Works currently has an average rating of Buy and a consensus price target of $148.69.
Illinois Tool Works Inc. (NYSE ITW) opened at 147.29 on Monday. Illinois Tool Works Inc. has a 1-year low of $111.50 and a 1-year high of $150.29. The firm’s 50-day moving average is $145.53 and its 200 day moving average is $135.52. The firm has a market cap of $50.88 billion, a PE ratio of 24.74 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, April 24th. The industrial products company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.09. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 43.70%.
In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the transaction, the insider now directly owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,850 shares of company stock valued at $30,245,971. Insiders own 0.90% of the company’s stock.
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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