Illinois Tool Works Inc. (ITW) Announces Earnings Results, Beats Estimates By $0.09 EPS

Illinois Tool Works Inc. (NYSE:ITW) released its quarterly earnings data on Monday. The industrial products company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.40 billion. Illinois Tool Works had a return on equity of 41.90% and a net margin of 14.96%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. Illinois Tool Works updated its Q2 guidance to $1.55-1.65 EPS and its FY17 guidance to $6.20-6.40 EPS.

Illinois Tool Works (NYSE:ITW) opened at 138.78 on Wednesday. Illinois Tool Works has a 12 month low of $98.32 and a 12 month high of $142.82. The stock has a market cap of $47.94 billion, a PE ratio of 23.31 and a beta of 1.01. The stock’s 50 day moving average price is $135.86 and its 200-day moving average price is $129.68.

Earnings History for Illinois Tool Works (NYSE:ITW)

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. Illinois Tool Works’s dividend payout ratio is presently 45.61%.

COPYRIGHT VIOLATION NOTICE: This report was published by BBNS and is the sole property of of BBNS. If you are accessing this report on another site, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this report can be viewed at https://baseballnewssource.com/markets/illinois-tool-works-inc-itw-posts-earnings-results-beats-expectations-by-0-09-eps-2-updated/652095.html.

In related news, insider Michael R. Zimmerman sold 5,000 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $140.00, for a total value of $700,000.00. Following the transaction, the insider now directly owns 7,626 shares of the company’s stock, valued at approximately $1,067,640. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ernest Scott Santi sold 101,297 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $138.03, for a total value of $13,982,024.91. Following the completion of the transaction, the chief executive officer now directly owns 191,142 shares in the company, valued at $26,383,330.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,740 shares of company stock worth $17,223,303. 0.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Illinois Tool Works by 95.3% in the third quarter. Acadian Asset Management LLC now owns 10,426 shares of the industrial products company’s stock valued at $1,250,000 after buying an additional 5,088 shares in the last quarter. Parkwood LLC bought a new stake in shares of Illinois Tool Works during the third quarter valued at $278,000. Berkshire Asset Management LLC PA increased its stake in shares of Illinois Tool Works by 4.6% in the third quarter. Berkshire Asset Management LLC PA now owns 11,215 shares of the industrial products company’s stock valued at $1,344,000 after buying an additional 493 shares in the last quarter. Albert D Mason Inc. increased its stake in shares of Illinois Tool Works by 78.0% in the third quarter. Albert D Mason Inc. now owns 11,910 shares of the industrial products company’s stock valued at $1,427,000 after buying an additional 5,220 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Illinois Tool Works by 3.1% in the third quarter. Quadrant Capital Group LLC now owns 1,552 shares of the industrial products company’s stock valued at $179,000 after buying an additional 47 shares in the last quarter. 74.80% of the stock is currently owned by institutional investors.

ITW has been the subject of several recent research reports. Stifel Nicolaus downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and upped their price target for the stock from $135.00 to $140.00 in a report on Monday, March 27th. Jefferies Group LLC reiterated a “buy” rating and set a $145.00 price target on shares of Illinois Tool Works in a report on Friday, March 17th. Royal Bank of Canada reiterated a “hold” rating and set a $125.00 price target on shares of Illinois Tool Works in a report on Friday, March 24th. Credit Suisse Group AG set a $135.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a report on Wednesday, April 12th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of Illinois Tool Works in a report on Saturday, April 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $144.50.

About Illinois Tool Works

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.

12 Month Chart for NYSE:ITW

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 our FREE daily email newsletter.

 


Latest News

David Price and Red Sox to Meet Following Rehab Start
David Price and Red Sox to Meet Following Rehab Start
Lack of Offense Leading to Mediocrity for Boston Red Sox
Lack of Offense Leading to Mediocrity for Boston Red Sox
MLB and Facebook Announce Live Streaming for Games
MLB and Facebook Announce Live Streaming for Games
Can Anyway Stop the Houston Astros?
Can Anyway Stop the Houston Astros?
Kevin Pillar Turns from Defense to Offense
Kevin Pillar Turns from Defense to Offense
Chris Iannetta Hit in Face with 93mph Fastball
Chris Iannetta Hit in Face with 93mph Fastball


Leave a Reply

 
© 2006-2017 BBNS.