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Stock Update: Illinois Tool Works Inc (NYSE:ITW) – ITW to Acquire ZF TRW Engineered Fasteners and Components Business

[GlobeNewswire] – GLENVIEW, Ill., Jan. 25, 2016– Illinois Tool Works Inc. today announced that it has reached a definitive agreement to acquire the Engineered Fasteners and Components business from ZF TRW for approximately … Read more on this. Illinois Tool Works Inc. (ITW) , valued at $29.76B, began trading this morning at $84.05. During today’s session, ITW traded between $81.17 to $83.37 with a trailing 52-week range being $78.79 to $100.14. Priced at 16.08x this year’s forecasted earnings, ITW shares are relatively expensive compared to the industry ’s 14.10x forward p/e ratio. And for income investors, the company pays shareholders $2.20 per share annually in dividends, yielding 2.68%. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $1.21 per share, which would be $0.03 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $5.11, which would be a $0.44 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.24 Billion. If reported, that would be a 7.43% 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. The average price target for ITW shares is $97.29, which is 15.75% above where the stock opened this morning. See more in (NYSE:ITW) Similar Articles: Market Update: Illinois Tool Works Inc (NYSE:ITW) – ITW Announces Plans to Webcast Investor Presentation for Baird’s 2015 Industrial Conference Stock Update (NYSE:ITW): ITW Board of Directors Declares Quarterly Dividend Market Update: Illinois Tool Works Inc (NYSE:ITW) – ITW Announces Conference Call Information for the 2015 Third Quarter
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