Illinois Tool Works Inc. (NYSE:ITW) – Stock analysts at Jefferies Group dropped their FY2017 earnings estimates for shares of Illinois Tool Works in a note issued to investors on Tuesday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $6.72 for the year, down from their previous forecast of $6.73. Jefferies Group has a “Buy” rating and a $190.00 price target on the stock.

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 for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 EPS.

Several other brokerages have also weighed in on ITW. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $155.00 price objective (up previously from $143.00) on shares of Illinois Tool Works in a research report on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Argus reaffirmed a “buy” rating and set a $180.00 price objective (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. J P Morgan Chase & Co raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $132.00 to $140.00 in a research report on Tuesday, October 10th. Finally, Citigroup reissued a “buy” rating and issued a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $158.60.

Illinois Tool Works (NYSE ITW) traded down $1.50 during mid-day trading on Friday, hitting $167.75. 289,875 shares of the company traded hands, compared to its average volume of 1,200,926. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. The firm has a market capitalization of $57,270.00, a PE ratio of 26.11, a P/E/G ratio of 2.46 and a beta of 1.16. Illinois Tool Works has a twelve month low of $120.06 and a twelve month high of $169.52.

Several institutional investors have recently added to or reduced their stakes in ITW. Omnia Family Wealth LLC raised its holdings in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the last quarter. Private Vista LLC increased its stake in shares of Illinois Tool Works by 13,697.3% in the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 277,508 shares during the last quarter. Harding Loevner LP bought a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $115,000. WFG Advisors LP increased its stake in shares of Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

In other news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on 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 filing with the SEC, which is available at this link. Also, VP Norman D. Jr. Finch purchased 4,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired at an average cost of $156.34 per share, with a total value of $779,511.24. Following the completion of the acquisition, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The disclosure for this purchase can be found here. Insiders sold a total of 126,506 shares of company stock worth $19,801,832 in the last 90 days. 0.90% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.86%. Illinois Tool Works’s dividend payout ratio is presently 47.85%.

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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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