Illinois Tool Works Inc. (NYSE:ITW) – Stock analysts at Jefferies Group lifted their FY2017 earnings estimates for Illinois Tool Works in a report issued on Monday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will earn $6.50 per share for the year, up from their prior forecast of $6.35. Jefferies Group currently has a “Buy” rating and a $170.00 price objective on the stock. Jefferies Group also issued estimates for Illinois Tool Works’ FY2019 earnings at $7.70 EPS.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.03. The business 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 15.50% and a return on equity of 46.57%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. ILLEGAL ACTIVITY NOTICE: This report was first published by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/07/26/jefferies-group-brokers-raise-earnings-estimates-for-illinois-tool-works-inc-itw.html.

A number of other equities research analysts have also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price target for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Credit Suisse Group set a $135.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research note on Wednesday, April 12th. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price target (up previously from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Barclays PLC lifted their price target on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Finally, Citigroup Inc. lifted their price target 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. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $152.58.

Shares of Illinois Tool Works (ITW) traded down 0.30% on Wednesday, reaching $141.22. 178,506 shares of the company’s stock traded hands. Illinois Tool Works has a 12-month low of $111.50 and a 12-month high of $150.29. The stock has a 50-day moving average price of $145.59 and a 200-day moving average price of $135.95. The company has a market cap of $48.78 billion, a PE ratio of 23.72 and a beta of 1.12.

Hedge funds have recently modified their holdings of the stock. Hudock Capital Group LLC raised its stake 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 during the period. Washington Trust Bank raised its stake 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 during the period. Trust Co. of Virginia VA raised its stake 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 during the period. Marietta Wealth Management LLC raised its stake 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 during the period. Finally, CENTRAL TRUST Co raised its stake 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 during the period. Hedge funds and other institutional investors own 75.51% of the company’s stock.

In other news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works 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 approximately $3,455,701.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ernest Scott Santi sold 101,297 shares of Illinois Tool Works stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total value of $13,982,024.91. Following the transaction, the chief executive officer now owns 191,142 shares in the company, valued at approximately $26,383,330.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,961 shares of company stock worth $28,311,650. Insiders own 0.90% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders 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 annualized dividend and a dividend yield of 1.84%. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

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 and Estimates for Illinois Tool Works (NYSE:ITW)

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