Illinois Tool Works (ITW) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $1.46 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.40. The company posted revenue of $3431.00 million in the period, compared to analysts expectations of $3413.93 million. The company’s revenue was down -.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS.
Many Wall Street Analysts have commented on Illinois Tool Works. Robert W. Baird Downgraded Illinois Tool Works on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $108.
Illinois Tool Works closed down -0.56 points or -0.50% at $110.66 with 9,19,876 shares getting traded on Monday. Post opening the session at $111.11, the shares hit an intraday low of $110.2801 and an intraday high of $111.28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 13, 2016, Sundaram Nagarajan (Executive Vice President) sold 4,560 shares at $110.00 per share price. According to the SEC, on May 18, 2016, David C Parry (Vice Chairman) sold 10,000 shares at $104.35 per share price. On May 13, 2016, Lei Zhang Schlitz (Executive Vice President) sold 2,500 shares at $104.93 per share price, according to the Form-4 filing with the securities and exchange commission.
Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Company’s operates in seven segments: Automotive OEM Test & Measurement and Electronics Food Equipment Polymers & Fluids Welding Construction Products and Specialty Products. These operations serve end markets as automotive original equipment manufacturers/tiers automotive aftermarket general industrial commercial food equipment and construction. It produces components and fasteners for automotive-related applications; equipment consumables and related software; commercial food equipment adhesives sealants lubrication and cutting fluids; arc welding equipment consumables and accessories; construction fastening systems and truss products and beverage packaging equipment and consumables. The Company operates approximately 90 divisions in 57 countries.