Illinois Tool Works Inc. (ITW) Releases FY17 Earnings Guidance
Illinois Tool Works Inc. (NYSE:ITW) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $6.62-6.72 for the period, compared to the Thomson Reuters consensus estimate of $6.46. Illinois Tool Works also updated its Q4 guidance to $1.55-1.65 EPS.
Shares of Illinois Tool Works Inc. (ITW) opened at 155.03 on Monday. The firm’s 50-day moving average price is $147.56 and its 200-day moving average price is $142.11. Illinois Tool Works Inc. has a one year low of $111.50 and a one year high of $155.12. The firm has a market capitalization of $53.35 billion, a P/E ratio of 25.09 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th were given a $0.78 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.01%. Illinois Tool Works’s payout ratio is presently 50.49%.
ITW has been the topic of a number of analyst reports. Stifel Nicolaus restated a hold rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Royal Bank Of Canada boosted their price objective on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a sector perform rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 price objective on shares of Illinois Tool Works and gave the company a hold rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Illinois Tool Works from a sell rating to a strong sell rating in a research report on Saturday, August 26th. Finally, Morgan Stanley restated an equal weight rating and issued a $147.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $153.87.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by corporate insiders.
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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.
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