Illinois Tool Works Inc. Expected to Post Q1 2019 Earnings of $1.91 Per Share (ITW)

Illinois Tool Works Inc. (NYSE:ITW) – Analysts at Seaport Global Securities issued their Q1 2019 EPS estimates for shares of Illinois Tool Works in a research note issued to investors on Thursday. Seaport Global Securities analyst W. Liptak anticipates that the industrial products company will post earnings per share of $1.91 for the quarter. Seaport Global Securities has a “Buy” rating and a $200.00 price target on the stock.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year.

ITW has been the subject of a number of other reports. Argus reaffirmed a “buy” rating and issued a $180.00 price objective (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Morgan Stanley upped their price objective on shares of Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and issued a $171.00 price objective (up from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. Wells Fargo & Co set a $170.00 price objective on shares of Illinois Tool Works and gave the stock a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their price objective on shares of Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works has a consensus rating of “Hold” and a consensus price target of $177.18.

Shares of Illinois Tool Works (NYSE:ITW) opened at $178.88 on Monday. Illinois Tool Works has a one year low of $125.96 and a one year high of $178.90. The firm has a market cap of $61,284.11, a PE ratio of 27.06, a P/E/G ratio of 2.30 and a beta of 1.18. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63.

In other Illinois Tool Works news, insider Roland M. Martel sold 64,818 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares of the company’s stock, valued at $4,389,825.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Harold B. Smith sold 30,000 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC increased its holdings in shares of Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2 shares in the last quarter. Legacy Advisors LLC increased its holdings in shares of Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 623 shares in the last quarter. Harding Loevner LP acquired a new position in shares of Illinois Tool Works during the second quarter valued at about $115,000. WFG Advisors LP increased its holdings in shares of Illinois Tool Works by 24.7% during the second 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 in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Illinois Tool Works by 1.9% during the second 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 in the last quarter. 74.76% of the stock is owned by institutional investors and hedge funds.

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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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