Market Update (NYSE:ITW): ITW Board of Directors Declares Quarterly Dividend

[GlobeNewswire] – GLENVIEW, Ill., May 06, 2016– The Board of Directors of Illinois Tool Works Inc. today declared a dividend on the company’s common stock of $0.55 per share for the second quarter of 2016. The dividend … Read more on this. Illinois Tool Works Inc. (ITW) , valued at $37.56B, opened this morning at $103.10. Looking at today’s trading action, the company’s one day range from $103.01 to $104.18 with a one year range of $78.79 to $106.19. ITW shares are currently priced at 18.91x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.50x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.20 per share annually in dividends, yielding 2.12%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.40 per share, which would be $0.10 better than the year-ago quarter and a $0.02 sequential increase. What we find to be interesting is that the full-year EPS estimate of $5.53 is a $0.40 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.42 Billion. If reported, that would be a 0.29% decrease over the year-ago quarter. More recently, Barclays Initiated ITW at Equal Weight (Jan 11, 2016). Previously, Global Hunter Securities upgraded ITW from Accumulate to Buy. Given all the information above, we should disclose to readers that the average price target is $109.33, which is 6.04% above than it opened this morning. See more in (NYSE:ITW) Similar Articles: Stock Update: Illinois Tool Works Inc (NYSE:ITW) – ITW Reports First Quarter 2016 Financial Results Stock Update (NYSE:ITW): ITW Announces Conference Call Information for 2016 First Quarter Earnings Stock Update: Illinois Tool Works Inc (NYSE:ITW) – ITW to Acquire ZF TRW Engineered Fasteners and Components Business
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