Illinois Tool Works Inc. (ITW) Updates Q4 Earnings Guidance
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.
COPYRIGHT VIOLATION NOTICE: “Illinois Tool Works Inc. (ITW) Updates Q4 Earnings Guidance” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/10/23/illinois-tool-works-inc-itw-updates-q4-earnings-guidance.html.
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.
Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.