Illinois Tool Works Inc. (NYSE:ITW) – Equities research analysts at Northcoast Research decreased their Q3 2017 earnings per share estimates for shares of Illinois Tool Works in a note issued to investors on Tuesday. Northcoast Research analyst T. Hayes now expects that the industrial products company will post earnings of $1.63 per share for the quarter, down from their previous estimate of $1.66. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Illinois Tool Works’ FY2017 earnings at $6.42 EPS.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year.

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ITW has been the topic of several other research reports. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Wednesday, July 12th. Credit Suisse Group set a $141.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Tuesday. Goldman Sachs Group, Inc. (The) raised Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their target price for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $160.00 target price (up previously from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Illinois Tool Works presently has an average rating of “Buy” and an average price target of $153.08.

Shares of Illinois Tool Works (NYSE ITW) opened at 140.07 on Thursday. The firm has a market capitalization of $48.39 billion, a P/E ratio of 23.53 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’s 50-day moving average is $145.44 and its 200 day moving average is $136.11.

A number of hedge funds have recently added to or reduced their stakes in ITW. Hudock Capital Group LLC increased its stake in 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 worth $139,000 after buying an additional 6 shares during the last quarter. Washington Trust Bank increased its stake in Illinois Tool Works by 1.1% in the second quarter. Washington Trust Bank now owns 977 shares of the industrial products company’s stock worth $140,000 after buying an additional 11 shares during the last quarter. Trust Co. of Virginia VA increased its stake in 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 worth $512,000 after buying an additional 15 shares during the last quarter. Marietta Wealth Management LLC increased its stake in 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 worth $452,000 after buying an additional 26 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in 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 worth $970,000 after buying an additional 26 shares during the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.

In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction that occurred on 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, CEO Ernest Scott Santi sold 101,297 shares of Illinois Tool Works stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 ninety days, insiders sold 201,961 shares of company stock worth $28,311,650. Corporate insiders own 0.90% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, June 28th. Illinois Tool Works’s payout ratio is 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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