Illinois Tool Works Reports 79 Cent EPS (ITW)

Glenview, Illinois-based Illinois Tool Works Inc. ITW on Monday morning released financial results. Illinois Tool Works Inc reported that its 4th quarter net income fell to $392.8 million, or 79 cents per share, down from $507.4 million, or $1.01 per share, a year earlier. Illinois Tool Works Inc reported revenue of $4.17 billion , up 11% from $3.76 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 80 cents per share, on revenue of $4.09 billion. Illinois Tool Works Inc. (ITW) ended the previous trading session at $54.71 per share. Analysts covering the company's stock have a consensus price target of $60.25 per share. Illinois Tool Works Inc is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The company consists of approximately 800 business units in 57 countries and employs approximately 59,000 people. Read more from Benzinga's Company news.