Illinois Tool Works (NYSE:ITW) Releases FY19 Earnings Guidance

Share on StockTwits

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.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. Sell-side analysts anticipate that Illinois Tool Works will post 7.94 earnings per share for the current year.

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.

COPYRIGHT VIOLATION NOTICE: “Illinois Tool Works (NYSE:ITW) Releases FY19 Earnings Guidance” was first reported by Tech Know Bits and is the sole property of of Tech Know Bits. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://techknowbits.com/2019/05/19/illinois-tool-works-itw-issues-fy19-earnings-guidance.html.

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.

Read More: How does a 12b-1 fee affect fund performance?

Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.