Illinois Tool Works Inc. (NYSE:ITW) – Equities researchers at Seaport Global Securities raised their Q4 2017 earnings per share estimates for Illinois Tool Works in a note issued to investors on Tuesday. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will earn $1.63 per share for the quarter, up from their previous forecast of $1.61. Seaport Global Securities also issued estimates for Illinois Tool Works’ Q4 2018 earnings at $1.80 EPS and FY2018 earnings at $7.22 EPS.
A number of other analysts also recently weighed in on ITW. Stifel Nicolaus reiterated a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a report on Wednesday, August 16th. J P Morgan Chase & Co downgraded Illinois Tool Works from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $141.00 to $132.00 in a report on Thursday, August 17th. Robert W. Baird set a $145.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a report on Thursday, August 24th. BidaskClub downgraded Illinois Tool Works from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $143.00 price target on shares of Illinois Tool Works in a report on Wednesday, September 13th. 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 company’s stock. The company has an average rating of “Hold” and a consensus target price of $162.67.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. Illinois Tool Works’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. AXA grew its stake in shares of Illinois Tool Works by 3.5% in the 3rd 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 period. Steward Partners Investment Advisory LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $2,001,000. Belpointe Asset Management LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $514,000. IFM Investors Pty Ltd acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $1,298,000. Finally, Independent Advisor Alliance boosted its stake in Illinois Tool Works by 53.0% during the 3rd quarter. Independent Advisor Alliance now owns 6,096 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 2,112 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.
In other news, VP Norman D. Jr. Finch bought 4,986 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the purchase, the vice president now directly owns 4,371 shares in the company, valued at approximately $683,362.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,506 shares of company stock valued at $19,801,832. 0.90% of the stock is currently owned by company 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 1.89%. Illinois Tool Works’s dividend payout ratio is presently 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.
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