Analysts Set Expectations for Illinois Tool Works Inc.’s Q4 2017 Earnings (ITW)
Illinois Tool Works Inc. (NYSE:ITW) – Equities researchers at Seaport Global Securities upped their Q4 2017 EPS estimates for shares of 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 post earnings per share of $1.63 for the quarter, up from their prior 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.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis.
Several other research analysts have also commented on the company. Argus reiterated a “buy” rating and issued a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Citigroup reiterated a “buy” rating and set a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley lifted their price target on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the company a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $162.67.
Illinois Tool Works (NYSE:ITW) opened at $166.30 on Wednesday. The firm has a market capitalization of $56,535.69, a PE ratio of 26.19, a P/E/G ratio of 2.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works has a 12-month low of $120.06 and a 12-month high of $169.69.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.88%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.78%.
In other news, EVP Juan Valls sold 48,622 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the transaction, the executive vice president now owns 71,101 shares of the company’s stock, valued at approximately $11,143,659.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now directly owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,324 shares of company stock worth $30,653,014. 0.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC lifted its position in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2 shares during the last quarter. Private Vista LLC increased its stake in Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 277,508 shares during the last quarter. Harding Loevner LP bought a new position in Illinois Tool Works in the second quarter valued at approximately $115,000. WFG Advisors LP increased its stake 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 acquiring an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Analysts Set Expectations for Illinois Tool Works Inc.’s Q4 2017 Earnings (ITW)” was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://theolympiareport.com/2017/12/07/analysts-set-expectations-for-illinois-tool-works-inc-s-q4-2017-earnings-itw.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.
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 Analyst Ratings Network's FREE daily email newsletter.