Illinois Tool Works Inc. (NYSE:ITW) – Jefferies Group upped their Q1 2018 earnings estimates for Illinois Tool Works in a report released on Sunday. Jefferies Group analyst S. Volkmann now anticipates that the industrial products company will post earnings per share of $1.70 for the quarter, up from their prior estimate of $1.65. Jefferies Group currently has a “Buy” rating and a $190.00 price objective on the stock. Jefferies Group also issued estimates for Illinois Tool Works’ Q2 2018 earnings at $1.85 EPS, Q3 2018 earnings at $1.90 EPS, Q4 2018 earnings at $1.85 EPS, FY2018 earnings at $7.30 EPS and FY2019 earnings at $7.85 EPS.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company earned $1.50 EPS. The firm’s revenue was up 3.4% on a year-over-year basis.

Several other equities analysts also recently issued reports on ITW. Wells Fargo & Company set a $190.00 price target on shares of Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird restated a “hold” rating and set a $160.00 price objective on shares of Illinois Tool Works in a report on Sunday. 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $143.00 target price on shares of Illinois Tool Works in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $160.93.

Illinois Tool Works (ITW) traded up $0.77 on Tuesday, hitting $166.99. 164,523 shares of the stock were exchanged, compared to its average volume of 1,208,365. The stock has a market capitalization of $56,484.30, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.18. Illinois Tool Works has a 12 month low of $120.06 and a 12 month high of $169.69. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AXA grew its stake in shares of Illinois Tool Works by 3.5% during the third quarter. AXA now owns 300,701 shares of the industrial products company’s stock valued at $44,492,000 after buying an additional 10,108 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at $2,001,000. Belpointe Asset Management LLC purchased a new stake in Illinois Tool Works during the 3rd quarter valued at $514,000. IFM Investors Pty Ltd bought a new stake in shares of Illinois Tool Works during the 3rd quarter valued at $1,298,000. Finally, Independent Advisor Alliance lifted its stake in Illinois Tool Works by 53.0% in the 3rd quarter. Independent Advisor Alliance now owns 6,096 shares of the industrial products company’s stock worth $925,000 after purchasing an additional 2,112 shares in the last quarter. 74.83% of the stock is owned by institutional investors and hedge funds.

In other news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the completion of the sale, the insider now directly owns 18,622 shares of the company’s stock, valued at $2,886,410. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Juan Valls sold 48,622 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock valued at $19,801,832 over the last ninety days. Insiders own 0.90% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.87%. Illinois Tool Works’s payout ratio is currently 47.78%.

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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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