Key Developments: Illinois Tool Works Inc (ITW.N)
70.78USD
17 May 2013
$0.87 (+1.24%)
$69.91
$70.15
$70.85
$70.08
1,259,691
584,922
$70.85
$49.07
Latest Key Developments (Source: Significant Developments)
Illinois Tool Works Inc Declare Quarterly Dividend
Illinois Tool Works Inc announced that the board of directors declared a regular quarterly cash dividend of $0.38 cents per share or $1.52 per share on an annual basis. The dividend will be paid on January 8, 2013 to stockholders of record as of December 31, 2012. Full Article
Illinois Tool Works Inc Promotes E. Scott Santi To President And Chief Operating Officer; Santi To Serve As Acting Chief Executive Officer
Illinois Tool Works Inc announced that E. Scott Santi, vice chairman, has been promoted to President and Chief Operating Officer. In addition, Mr. Santi has also been appointed acting Chief Executive Officer, effective immediately. Mr. Santi's appointment as acting CEO follows the decision by David Speer, Chairman and Chief Executive Officer, to take a leave of absence in order to fully focus on his health. Full Article
Illinois Tool Works Inc Updates FY 2012 Revenue Guidance-Conference Call
Illinois Tool Works Inc announced that it expects revenues for fiscal 2012 to come in at about $18 billion, $18 billion plus. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $18.13 billion for fiscal 2012. Full Article
Illinois Tool Works Inc To Sell Stake In Unit For $1.05 Billion-Reuters
Reuters reported that Illinois Tool Works Inc (ITW) will sell a majority stake in its decorative surfaces unit to a fund managed by private equity firm Clayton, Dubilier & Rice, for about $1.05 billion, ITW said on August 16, 2012. llinois Tool, which will retain a 49% stake in the business, will use most of the cash proceeds to buy back shares. The deal is expected to close in the fourth quarter. Full Article
Illinois Tool Works Inc Reaffirms Q3 2012 EPS Guidance
Illinois Tool Works Inc announced that for the third quarter of 2012, it expects diluted income per share from continuing operations to be in a range of $1.03 to $1.11. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $1.06 for the third quarter of 2012. Full Article
Illinois Tool Works Inc Announces 6% Dividend Increase
Illinois Tool Works Inc announced that the Board of Directors has declared a regular quarterly cash dividend of $0.38 cents per share or $1.52 per share on an annual basis. The quarterly increase of $0.02 cents per share—$0.08 cents per share annually—represents a 6% increase versus the current dividend rate. The newly increased dividend will be paid on October 10, 2012 to stockholders of record as of September 28, 2012. Full Article
Illinois Tool Works Inc Lowers FY 2012 Guidance; Comments On Q3 2012 Revenue Guidance; Issues Q3 2012 EPS Guidance In Line With Analysts' Estimates
Illinois Tool Works Inc lowered fiscal 2012 guidance and expects revenue growth from continuing operations to be in a range of 1% to 3% versus the prior range of 5% to 7%. As a result, fiscal 2012 diluted income per share (EPS) from continuing operations is expected to be in a range of $4.03 to $4.19 versus the prior range of $4.14 to $4.38. For third quarter 2012, the Company is forecasting revenue growth to be in a range from -1% to 1% and diluted income per share from continuing operations to be in a range of $1.03 to $1.11. The Company reported revenue of $17.787 billion in fiscal 2011. According to I/B/E/S estimates, analysts were expecting the Company to report revenue of $18.76 billion and EPS of $4.18 for fiscal 2012; revenue of $4.82 billion and EPS of $1.10 for third quarter of 2012. Full Article
SC Johnson Reaches Agreement to Acquire Illinois Tool Works Inc's Space Bag Brand
SC Johnson announced that it has reached an agreement to acquire ITW's global Space Bag brand and related assets. Space Bag, a space-saving storage, joins SC Johnson's robust portfolio of household brands including Pledge, Glade, Mr. Muscle, Windex Kiwi and Ziploc. Like many SC Johnson brands, Space Bag is the market in its category. SC Johnson expects the deal to be finalized in next few months subject to U.S. regulatory clearances and is working on developing transition plans for the business. As a private company, SC Johnson does not disclose details regarding financial or business transactions. Full Article
Illinois Tool Works Inc Declares Quarterly Dividend
Illinois Tool Works Inc announced that its Board of Directors declared a regular quarterly cash dividend of $0.0036 per share or $0.0144 per share on an annual basis. This dividend will be paid on July 10, 2012 to stockholders of record on June 29, 2012. Full Article
Graco Inc Closes Finishing Brands Acquisition Of Illinois Tool Works Inc
Graco Inc announced that it has closed on its $650 million acquisition of the Illinois Tool Works Inc. finishing businesses. The Company previously announced that it reached an agreement with the United States Federal Trade Commission (FTC), which allowed for closing to occur while the FTC investigates and considers a settlement proposal from Graco. The acquisition includes complementary powder and liquid finishing equipment operations, technologies and brands. In powder finishing, Graco has added Gema, the Powder Finishing business, and approximately one-third of the purchase price is expected to be allocated to this business. In industrial liquid finishing, the acquisition includes Binks spray finishing equipment, DeVilbiss spray guns and accessories. As disclosed on March 27, 2012, the FTC has issued an order for Graco to hold the Liquid Finishing assets separate from the Powder Finishing and other Graco businesses while the FTC investigates and considers a settlement proposal from Graco. In compliance with the FTC’s order, the Liquid Finishing businesses have been acquired into a structure that limits commingling of the Liquid Finishing operations with Graco’s other businesses. Although the Liquid Finishing businesses are wholly owned by Graco, they will be run independently by existing management under the supervision of a trustee who reports directly to the FTC. Full Article
UPDATE 1-Illinois Tool Works explores sale of industrial packaging business
* Below-average profitability made packaging a candidate - analyst
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