Illinois Tool Works Inc. (NYSE:ITW) issued an update on its FY13 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $3.56-3.64 for the period, compared to the Thomson Reuters consensus estimate of $3.68, AmericanBankingNews.com reports. Illinois Tool Works also updated its FY14 guidance to $4.30-4.50 EPS.
ITW has been the subject of a number of recent research reports. Analysts at Zacks reiterated a neutral rating on shares of Illinois Tool Works in a research note to investors on Friday, October 25th. They now have a $82.00 price target on the stock. On a related note, analysts at Robert W. Baird raised their price target on shares of Illinois Tool Works from $80.00 to $82.00 in a research note to investors on Wednesday, October 23rd. They now have an outperform rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Illinois Tool Works from $71.00 to $74.00 in a research note to investors on Wednesday, October 23rd. They now have an underweight rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $78.40.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 78.91 on Friday. Illinois Tool Works Inc. has a 52 week low of $59.55 and a 52 week high of $79.97. The stock has a 50-day moving average of $78.81 and a 200-day moving average of $74.08. The company has a market cap of $35.023 billion and a P/E ratio of 15.97.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, October 22nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. Analysts expect that Illinois Tool Works Inc. will post $3.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, December 27th.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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