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Illinois Tool Works Inc. (ITW)

  • Tue, Apr. 21, 9:29 AM
    • Net profit of $458M, or $1.21 per share vs. $473M, or $1.01 per share, in the same quarter a year ago.
    • Revenue decreased 6.4% to $3.34B on negative currency impacts, while organic revenue rose 1% reflecting lower equipment demand and continued efforts to simplify its business lineup. Operating margin rose to 20.9% from 18.7%.
    • The company cut its per-share 2015 earnings estimate to $5.00-$5.20 and underlying revenue growth of 1%-2% from per-share profit of $5.15-$5.35 and core revenue growth of 2.5%-3.5%.
    • For the current quarter, the company forecast per-share earnings of $1.22-$1.30 vs. a $1.36 consensus.
    • ITW -3.1% premarket
    • Q1 results
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  • Jul. 9, 2014, 9:25 AM
    • Argus upgrades Illinois Tool Works (ITW) to a Buy rating from Hold.
    • The investment firm thinks earnings and buybacks will accelerate due to mid-single-digit sales growth and margin expansion. The firm's PT is $102.
    • ITW +0.4% premarket
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  • Sep. 24, 2013, 9:21 AM
    • Illinois Tool Works (ITW) expects to repurchase 50M shares in a new repurchase program that begin immediately and will finish up no later than the end of 2014.
    • Previous: Illinois Tool Works announces it will sell Industrial Packaging segment
    • ITW +1.0% premarket.
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  • Sep. 24, 2013, 9:12 AM
    • Illinois Tool Works (ITW) says it will start shopping its Industrial Packaging segment with the assistance of Goldman Sachs and JPMorgan.
    • The company hopes to complete the sales process by the middle of next year.
    • ITW +1.1% premarket.
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  • Aug. 22, 2013, 10:22 AM
    • Illinois Tool Works (ITW +1.8%) ticks higher this morning after FBR Capital ups its target price on the shares to $85 from $80.
    • The firm leaves its Outperform rating unchanged.
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  • Jul. 23, 2013, 8:45 AM
    More on Illinois Tool Works (ITW -3.6%) Q2: net profit drops to $465M from $881M; Q2 includes a charge of $0.05 primarily related to the exit of Decorative Surfaces employees from ITW's pension plan. Income from continuing operations falls to $464M from $519M. Guidance: Q3 EPS from continuing ops $1.06-$1.16 vs consensus of $1.13, and revenue growth of 3-5% vs contraction of 5.2%. Full year EPS $4.10-4.30 vs $4.23 and revenue growth of 0.5-2.5% vs -6.9%. ITW's FY outlook is below previous guidance. (PR)
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  • Jun. 24, 2013, 12:20 PM
    Illinois Tool Works (ITW -1.3%) slips on a downgrade to Sell on valuation. Goldman says ITW's multiple is rich and earnings upside is unlikely in 2013/2014 given slow growth across its portfolio.
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  • Apr. 23, 2013, 11:58 AM
    Illinois Tool Works (ITW) +3.1%) moves up on a mixed Q1 report that came in line on a per share basis but short on revenue. Net profit fell 27% Y/Y, as losses from discontinued operations and weaker organic revenue weighed on its bottom line. Investors appear to be taking a narrow improvement in current quarter revenue guidance to lift the shares higher today. The company now expects Q2 revenue to increase between 2.5% to 3.5%, while analysts had been anticipating a 3% revenue decline.
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  • Nov. 8, 2012, 2:28 PM
    Illinois Tool Works (ITW -1.7%) dips after being downgraded to Hold on valuation at ISI Group earlier today. The stock has had a good run this year, up over 20% just since mid-July. The firm raises its price target however, to $67 from $62.
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  • Oct. 9, 2012, 5:52 PM
    Shares of several heavy equipment makers are sliding on weak guidance from Cummins (CMI -4.8% AH): CAT -1.8%, DE -0.9%, ETN -1.9%, ITW -0.2%, NAV -3.1%, PCAR -3.2% AH.
  • Aug. 16, 2012, 9:54 AM
    Illinois Tool Works (ITW +1.5%) plans to divest a 51% stake in its decorative surfaces segment, consisting of Wilsonart and related international businesses, to a fund managed by Clayton, Dubilier & Rice. Through a combination of CD&R's $395M equity investment and borrowing by the new company, ITW will receive cash proceeds of ~$1.05B and retain a 49% interest in the business.
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  • Jul. 24, 2012, 10:42 AM
    More on Illinois Tool Works (ITW -3.3%) Q2: net profit jumps 77% to $881M, reflecting major gains from discontinued operations. Cuts FY guidance, now predicts EPS of $4.03-4.19 on revenue growth of 1-3% vs. prior estimate of $4.14-4.38 and 5-7%. For FQ3, forecasts $1.03-1.11 on flat revenue vs. consensus of $1.10 and +5% to $4.83B.
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  • May. 25, 2012, 1:10 PM
    Illinois Tool Works (ITW +1.2%) gets a lift from an upgrade by JPMorgan to Overweight. The firm says ITW is committed to overhauling the diversified manufacturer's business portfolio. The company's performance has been weighed down by too many slow-growing businesses and a highly decentralized corporate structure, and recent activist moves to restructure its business indicate the company is making tangible moves to reinvent itself.
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  • Jan. 17, 2012, 11:15 AM
    Illinois Tool Works (ITW +4.1%), which has been facing pressure to break up, is one of the S&P 500's top gainers following its decision to give shareholder Relational Investors a board seat. In return, Relational will refrain from launching a proxy contest to gain a directorship and initiate or encourage any stockholder proposals.
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  • Oct. 25, 2011, 2:31 PM
    Illinois Tool Works' (ITW -4.5%) Q3 beat on a per share basis as earnings rose 20% on strong demand, but the shares are trading lower after the company cuts its outlook for the rest of the year due to restructuring costs. It now expects its EPS to be in the range between $0.86 - $0.94.
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  • Jul. 26, 2011, 8:34 AM
    More on Illinois Tool Works' (ITW) Q2: Revenue misses consensus by $65M. Guides for Q3 EPS of $0.95-$1.03, below $1.06 consensus. Guides for 2011 EPS of $3.72-$3.88 (exc. one-time tax benefit), below $3.92 consensus. Company long seen as barometer for industrial demand. ITW -3.5% premarket. (PR)
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Company Description
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. Its segments are: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products.