Illinois Tool Works (NYSE:ITW) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $7.90-8.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.94.
Several brokerages have issued reports on ITW. Credit Suisse Group reissued a hold rating on shares of Illinois Tool Works in a research note on Friday, February 1st. Citigroup set a $161.00 price objective on shares of Illinois Tool Works and gave the stock a hold rating in a research note on Friday, April 26th. Argus raised their price objective on shares of Illinois Tool Works from $145.00 to $165.00 and gave the stock a buy rating in a research note on Friday, April 26th. Zacks Investment Research downgraded shares of Illinois Tool Works from a hold rating to a sell rating in a research note on Monday, April 8th. Finally, Morgan Stanley set a $134.00 price objective on shares of Illinois Tool Works and gave the stock a sell rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $142.59.
Shares of NYSE:ITW opened at $150.60 on Friday. The company has a market cap of $49.06 billion, a PE ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 1.21. Illinois Tool Works has a one year low of $117.75 and a one year high of $158.69. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.19 and a current ratio of 1.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s payout ratio is 52.63%.
In related news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the transaction, the insider now directly owns 71,927 shares of the company’s stock, valued at $10,486,237.33. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Juan Valls sold 52,265 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total transaction of $7,443,058.65. Following the transaction, the executive vice president now directly owns 78,620 shares in the company, valued at $11,196,274.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,142 shares of company stock worth $15,992,093. 0.87% of the stock is currently owned by corporate insiders.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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