Illinois Tool Works Inc. (NYSE:ITW) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.60. Illinois Tool Works also updated its FY17 guidance to $6.62-6.72 EPS.

Shares of Illinois Tool Works Inc. (NYSE ITW) opened at 155.03 on Monday. The company has a market capitalization of $53.35 billion, a P/E ratio of 25.09 and a beta of 1.12. Illinois Tool Works Inc. has a 12-month low of $111.50 and a 12-month high of $155.12. The stock’s 50 day moving average is $147.56 and its 200-day moving average is $142.11.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.50 earnings per share. Analysts anticipate that Illinois Tool Works Inc. will post $6.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.01%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 50.49%.

ITW has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a hold rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Royal Bank Of Canada raised their target price on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a sector perform rating in a research note on Tuesday, July 25th. Credit Suisse Group set a $141.00 target price on shares of Illinois Tool Works and gave the company a hold rating in a research note on Tuesday, July 25th. BidaskClub cut shares of Illinois Tool Works from a sell rating to a strong sell rating in a research note on Saturday, August 26th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $153.87.

In other news, insider John R. Hartnett sold 6,533 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company 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.

Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

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