Illinois Tool Works Inc. (ITW) to Post Q3 2016 Earnings of $1.47 Per Share, Seaport Global Securities Forecasts
Illinois Tool Works Inc. (NYSE:ITW) – Research analysts at Seaport Global Securities dropped their Q3 2016 earnings per share estimates for shares of Illinois Tool Works in a report issued on Monday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will earn $1.47 per share for the quarter, down from their previous estimate of $1.48. Seaport Global Securities also issued estimates for Illinois Tool Works’ Q4 2016 earnings at $1.37 EPS, Q3 2017 earnings at $1.56 EPS and Q4 2017 earnings at $1.44 EPS.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $102.00 price target on shares of Illinois Tool Works in a research report on Thursday, August 25th. RBC Capital Markets reissued a “sector perform” rating and issued a $104.00 price target (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday, July 24th. Credit Suisse Group AG set a $114.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, July 21st. Finally, Royal Bank Of Canada increased their price target on Illinois Tool Works from $101.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $108.43.
Illinois Tool Works (NYSE:ITW) opened at 119.27 on Tuesday. Illinois Tool Works has a 1-year low of $79.15 and a 1-year high of $123.50. The firm has a market cap of $42.34 billion, a P/E ratio of 22.21 and a beta of 1.11. The company has a 50-day moving average price of $118.84 and a 200-day moving average price of $110.10.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.06. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. The company earned $3.43 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The company’s revenue was down .1% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, September 30th will be paid a $0.65 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $2.60 annualized dividend and a yield of 2.18%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.55. Illinois Tool Works’s dividend payout ratio (DPR) is currently 48.42%.
In other Illinois Tool Works news, EVP Sundaram Nagarajan sold 4,560 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total value of $501,600.00. Following the completion of the transaction, the executive vice president now owns 24,777 shares in the company, valued at approximately $2,725,470. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael M. Larsen sold 14,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $113.99, for a total value of $1,595,860.00. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ITW. Hudock Capital Group LLC increased its position in shares of Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock valued at $108,000 after buying an additional 5 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in Illinois Tool Works by 1,008.5% in the second quarter. Archford Capital Strategies LLC now owns 1,175 shares of the company’s stock valued at $122,000 after buying an additional 1,069 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in Illinois Tool Works during the second quarter valued at $128,000. Farmers National Bank acquired a new stake in Illinois Tool Works during the second quarter valued at $129,000. Finally, Kernodle & Katon Asset Management Group LLC boosted its stake in Illinois Tool Works by 85.8% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 1,293 shares of the company’s stock valued at $135,000 after buying an additional 597 shares during the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
Receive News & Stock 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 stocks with our FREE daily email newsletter.