Illinois Tool Works Inc. (NYSE:ITW) – Stock analysts at Jefferies Group upped their FY2017 earnings per share estimates for Illinois Tool Works in a report released on Monday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $6.50 per share for the year, up from their prior estimate of $6.35. Jefferies Group currently has a “Buy” rating and a $170.00 target price on the stock. Jefferies Group also issued estimates for Illinois Tool Works’ FY2019 earnings at $7.70 EPS.
Other research analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a “buy” rating and issued a $160.00 target price on shares of Illinois Tool Works in a report on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research note on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $153.08.
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Illinois Tool Works (NYSE ITW) traded down 0.34% during mid-day trading on Wednesday, hitting $140.34. The stock had a trading volume of 702,924 shares. The firm’s 50-day moving average is $145.34 and its 200 day moving average is $136.15. The stock has a market cap of $48.48 billion, a PE ratio of 23.57 and a beta of 1.12. Illinois Tool Works has a one year low of $111.50 and a one year high of $150.29.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 42.07%.
In other news, CEO Ernest Scott Santi sold 101,297 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $138.03, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael M. Larsen sold 52,447 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the transaction, the chief financial officer now owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,961 shares of company stock valued at $28,311,650. Insiders own 0.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ITW. Quadrature Capital Ltd purchased a new stake in Illinois Tool Works during the fourth quarter worth about $2,027,000. Perigon Wealth Management LLC boosted its position in Illinois Tool Works by 20.3% in the fourth quarter. Perigon Wealth Management LLC now owns 1,481 shares of the industrial products company’s stock worth $199,000 after buying an additional 250 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in Illinois Tool Works by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,947 shares of the industrial products company’s stock worth $1,207,000 after buying an additional 33 shares during the last quarter. Teachers Advisors LLC increased its stake in Illinois Tool Works by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 905,590 shares of the industrial products company’s stock worth $110,899,000 after buying an additional 39,223 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Illinois Tool Works during the fourth quarter worth about $2,807,000. Institutional investors own 75.51% of the company’s stock.
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.
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