Illinois Tool Works (ITW) is Downgraded by Goldman to Neutral

Illinois Tool Works (ITW) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on Illinois Tool Works. Illinois Tool Works was Downgraded by Goldman to ” Neutral” on Nov 21, 2016.

On the company’s financial health, Illinois Tool Works reported $1.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $1.49. The company had revenue of $3495.00 million for the quarter, compared to analysts expectations of $3502.15 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS.

Illinois Tool Works closed down -0.13 points or -0.10% at $123.96 with 10,64,827 shares getting traded on Monday. Post opening the session at $123.94, the shares hit an intraday low of $123.22 and an intraday high of $124.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Oct 28, 2016, Illinois Tool Works announced a cash dividend of $0.6500. The company’s management has announced Dec 28, 2016 as the ex-dividend date and fixed the record date on Dec 30, 2016. The payable date has been fixed on Jan 11, 2017.

In a different news, on Nov 18, 2016, David C Parry (Vice Chairman) sold 31,037 shares at $124.64 per share price. According to the SEC, on Nov 16, 2016, John R. Hartnett (Executive Vice President) sold 7,500 shares at $123.69 per share price. On Nov 14, 2016, Sundaram Nagarajan (Executive Vice President) sold 34,299 shares at $122.45 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.

Illinois Tool Works

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