Illinois Tool Works Inc. (NYSE:ITW) – Investment analysts at Northcoast Research lowered their Q4 2018 earnings estimates for Illinois Tool Works in a research note issued on Thursday, October 25th. Northcoast Research analyst T. Hayes now anticipates that the industrial products company will post earnings per share of $1.84 for the quarter, down from their prior estimate of $1.89. Northcoast Research also issued estimates for Illinois Tool Works’ Q2 2019 earnings at $2.11 EPS and Q4 2019 earnings at $2.04 EPS.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 earnings per share.
Shares of ITW stock opened at $129.70 on Monday. The stock has a market capitalization of $41.62 billion, a PE ratio of 19.68, a PEG ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works has a one year low of $119.38 and a one year high of $179.07.
Institutional investors and hedge funds have recently bought and sold shares of the stock. State Treasurer State of Michigan grew its position in Illinois Tool Works by 150.8% during the second quarter. State Treasurer State of Michigan now owns 226,997 shares of the industrial products company’s stock valued at $31,448,000 after buying an additional 136,500 shares during the period. Spearhead Capital Advisors LLC boosted its position in Illinois Tool Works by 4.5% during the third quarter. Spearhead Capital Advisors LLC now owns 22,083 shares of the industrial products company’s stock worth $3,106,000 after purchasing an additional 955 shares during the period. Stephens Inc. AR boosted its position in Illinois Tool Works by 8.4% during the second quarter. Stephens Inc. AR now owns 52,327 shares of the industrial products company’s stock worth $7,249,000 after purchasing an additional 4,038 shares during the period. FDx Advisors Inc. boosted its position in Illinois Tool Works by 35.3% during the second quarter. FDx Advisors Inc. now owns 10,410 shares of the industrial products company’s stock worth $1,442,000 after purchasing an additional 2,717 shares during the period. Finally, Factory Mutual Insurance Co. boosted its position in Illinois Tool Works by 2.2% during the third quarter. Factory Mutual Insurance Co. now owns 308,600 shares of the industrial products company’s stock worth $43,550,000 after purchasing an additional 6,700 shares during the period. Institutional investors own 76.24% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Investors 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 annualized dividend and a yield of 3.08%. This is a positive change 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 authorized a share repurchase program on Friday, August 3rd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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