Northcoast Research Comments on Illinois Tool Works Inc.’s Q1 2017 Earnings (ITW)

Northcoast Research Comments on Illinois Tool Works Inc.’s Q1 2017 Earnings (ITW)

Illinois Tool Works Inc. (NYSE:ITW) – Stock analysts at Northcoast Research decreased their Q1 2017 earnings estimates for shares of Illinois Tool Works in a research report issued to clients and investors on Thursday. Northcoast Research analyst T. Hayes now forecasts that the brokerage will post earnings of $1.45 per share for the quarter, down from their prior estimate of $1.47.

A number of other equities research analysts also recently issued reports on ITW. Goldman Sachs Group, Inc. (The) downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective for the company. in a research report on Monday, November 21st. They noted that the move was a valuation call. Jefferies Group LLC boosted their price objective on shares of Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $123.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, December 5th. Finally, Barclays PLC reissued a “hold” rating and set a $122.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, January 18th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.13.

Shares of Illinois Tool Works (NYSE:ITW) opened at 128.86 on Monday. The firm’s 50-day moving average price is $124.47 and its 200-day moving average price is $119.69. Illinois Tool Works has a 52-week low of $88.00 and a 52-week high of $130.16. The stock has a market cap of $44.88 billion, a P/E ratio of 22.61 and a beta of 1.06.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, January 25th. The company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.02. Illinois Tool Works had a return on equity of 41.90% and a net margin of 14.96%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in ITW. Nisa Investment Advisors LLC increased its position in shares of Illinois Tool Works by 3.7% in the second quarter. Nisa Investment Advisors LLC now owns 153,577 shares of the company’s stock valued at $15,997,000 after buying an additional 5,440 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Illinois Tool Works by 1.4% in the second quarter. LS Investment Advisors LLC now owns 44,708 shares of the company’s stock valued at $4,657,000 after buying an additional 600 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Illinois Tool Works by 148.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 223,145 shares of the company’s stock valued at $23,243,000 after buying an additional 133,297 shares during the last quarter. First Midwest Bank Trust Division increased its position in shares of Illinois Tool Works by 1.7% in the second quarter. First Midwest Bank Trust Division now owns 7,385 shares of the company’s stock valued at $769,000 after buying an additional 125 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Illinois Tool Works by 1.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,447 shares of the company’s stock valued at $984,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.

In other news, insider Sundaram Nagarajan sold 34,299 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $122.62, for a total transaction of $4,205,743.38. Following the sale, the insider now directly owns 54,516 shares in the company, valued at approximately $6,684,751.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman David C. Parry sold 31,037 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $124.26, for a total transaction of $3,856,657.62. Following the sale, the insider now owns 31,621 shares in the company, valued at $3,929,225.46. The disclosure for this sale can be found here. Insiders have sold a total of 74,599 shares of company stock worth $9,207,631 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

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