Illinois Tool Works Inc. (NYSE:ITW) announced its quarterly earnings results on Monday. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20, Bloomberg Earnings reports. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Illinois Tool Works updated its Q4 guidance to $1.55-1.65 EPS and its FY17 guidance to $6.62-6.72 EPS.

Illinois Tool Works (NYSE ITW) opened at 155.03 on Monday. The stock’s 50 day moving average price is $147.56 and its 200 day moving average price is $142.11. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $155.12. The firm has a market capitalization of $53.35 billion, a PE ratio of 25.09 and a beta of 1.12.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, September 28th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 annualized dividend and a dividend yield of 2.01%. Illinois Tool Works’s dividend payout ratio (DPR) is 50.49%.

In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Several analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $143.00 price target on shares of Illinois Tool Works in a report on Friday. Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. J P Morgan Chase & Co raised Illinois Tool Works from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $132.00 to $140.00 in a report on Tuesday, October 10th. Citigroup Inc. reissued a “buy” rating and issued a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $147.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $153.87.

COPYRIGHT VIOLATION WARNING: “Illinois Tool Works Inc. (ITW) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS” was posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/10/23/illinois-tool-works-inc-itw-posts-quarterly-earnings-results-beats-expectations-by-0-20-eps.html.

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.

Earnings History for Illinois Tool Works (NYSE:ITW)

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 MarketBeat.com's FREE daily email newsletter.