Illinois Tool Works Inc. (NYSE:ITW) announced its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03, Bloomberg Earnings reports. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Illinois Tool Works updated its Q3 guidance to $1.57-1.67 EPS and its FY17 guidance to $6.32-6.52 EPS.
Illinois Tool Works (NYSE ITW) opened at 135.67 on Friday. The company has a market capitalization of $46.69 billion, a price-to-earnings ratio of 21.95 and a beta of 1.11. Illinois Tool Works has a 52-week low of $111.50 and a 52-week high of $150.29. The stock has a 50 day moving average price of $142.53 and a 200 day moving average price of $137.77.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.30%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 42.07%.
A number of hedge funds and other institutional investors have recently bought and sold shares of ITW. Omnia Family Wealth LLC boosted its position in Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after buying an additional 2 shares during the period. FCM Investments TX bought a new position in Illinois Tool Works during the first quarter valued at about $106,000. Harding Loevner LP bought a new position in Illinois Tool Works during the second quarter valued at about $115,000. WFG Advisors LP boosted its position in Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after buying an additional 161 shares during the period. Finally, MCF Advisors LLC boosted its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.
A number of equities research analysts recently issued reports on ITW shares. Stifel Nicolaus reissued a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research note on Wednesday. Royal Bank Of Canada raised their price target on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 25th. Argus raised their price target on Illinois Tool Works from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Finally, Barclays PLC raised their price target on Illinois Tool Works from $130.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $151.08.
TRADEMARK VIOLATION NOTICE: “Illinois Tool Works Inc. (ITW) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS” was originally published by Community Financial News and is owned by of Community Financial News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2017/08/19/illinois-tool-works-inc-itw-releases-earnings-results-beats-expectations-by-0-03-eps-updated-updated-updated.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.
What are top analysts saying about Illinois Tool Works Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Illinois Tool Works Inc. and related companies.