Illinois Tool Works Inc. (NYSE:ITW) – Stock analysts at Northcoast Research dropped their FY2018 earnings per share estimates for shares of Illinois Tool Works in a research note issued on Thursday, October 25th. Northcoast Research analyst T. Hayes now forecasts that the industrial products company will post earnings of $7.61 per share for the year, down from their previous estimate of $7.65. Northcoast Research also issued estimates for Illinois Tool Works’ Q3 2019 earnings at $2.04 EPS and FY2019 earnings at $8.23 EPS.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS.
Shares of NYSE:ITW opened at $124.10 on Friday. The firm has a market cap of $41.14 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. Illinois Tool Works has a 1-year low of $119.38 and a 1-year high of $179.07.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Friday, September 28th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.00 dividend on an annualized basis and a yield of 3.22%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.78. Illinois Tool Works’s dividend payout ratio is presently 60.70%.
Illinois Tool Works declared that its Board of Directors has approved a share buyback program on Friday, August 3rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the industrial products company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in ITW. CX Institutional purchased a new position in Illinois Tool Works during the 2nd quarter worth $101,000. Kaizen Advisory LLC raised its position in Illinois Tool Works by 151.0% during the 2nd quarter. Kaizen Advisory LLC now owns 748 shares of the industrial products company’s stock worth $104,000 after buying an additional 450 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Illinois Tool Works by 220.1% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after buying an additional 548 shares during the last quarter. Sun Life Financial INC raised its position in Illinois Tool Works by 277.2% during the 2nd quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after buying an additional 607 shares during the last quarter. Finally, Fort L.P. purchased a new position in Illinois Tool Works during the 2nd quarter worth $117,000. Institutional investors own 76.33% of the company’s stock.
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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