Key Developments: Illinois Tool Works Inc (ITW)
70.23USD
24 May 2013
$-0.04 (-0.06%)
$70.27
$69.96
$70.29
$69.45
1,158,618
2,416,555
$71.64
$49.07
Latest Key Developments (Source: Significant Developments)
Hardinge Inc Announces Agreement To Acquire Forkardt Operations From Illinois Tool Works Inc
Hardinge Inc announced that it has entered into a definitive agreement to acquire Forkardt from Illinois Tool Works Inc for $34 million in a negotiated transaction. The acquisition, which is expected to be completed on May 09, 2013, will be funded with a combination of cash and debt. Forkardt was founded in Germany in 1923 by Paul Forkardt, as a manufacturer of chucks. Full Article
Illinois Tool Works Inc Declare Quarterly Dividend
Illinois Tool Works Inc announced that it has declared a regular quarterly cash dividend of $0.38 cents per share. This equates to $1.52 per share on an annualized basis after taking into account the acceleration of the payment of the January 2013 dividend into December 2012. The dividend will be paid on July 9, 2013 to stockholders of record as of June 28, 2013. Full Article
Illinois Tool Works Inc Narrows FY 2013 Guidance To A Range In Line With Analysts' Estimates; Issues Q2 2013 EPS Guidance In Line With Analysts' Estimates; Comments On Q2 2013 Revenue Guidance
Illinois Tool Works Inc announced that for fiscal 2013, it expects diluted income per share from continuing operations forecast range of $4.15 to $4.35 and assumes a total revenue growth range of 2% to 4%. For the second quarter of 2013, it expects diluted income per share from continuing operations to be in a range of $1.04 to $1.12 and assumes a total revenue growth range of 2.5% to 3.5%. The Company reported revenue of $17.855 billion in fiscal 2012. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $1.12 on revenue of $4.5 billion for the second quarter of 2013; EPS of $4.26 on revenue of $17.53 billion for fiscal 2013. Full Article
Illinois Tool Works Inc Announces Resignation Of CFO-Form 8-K
Illinois Tool Works Inc reported in its Form 8-K that on March 15, 2013, ITW and Ronald D. Kropp, Chief Financial Officer (CFO), mutually agreed that Mr. Kropp will step down from the CFO position. In order to ensure a smooth transition, Mr. Kropp will remain in the CFO role until August 9, 2013. The Company has initiated a search process and is committed to conducting this process as efficiently and expeditiously as possible. The Company will consider both external and internal candidates. Full Article
Illinois Tool Works Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Illinois Tool Works Inc announced that for fiscal 2013, it expects revenues growth in total about 3% to 5%. The Company reported revenue of $17.924 billion in fiscal 2012. Full Article
Illinois Tool Works Inc Declare Quarterly Dividend
Illinois Tool Works Inc announced that it has declared a regular quarterly cash dividend of $0.38 cents per share. This equates to $1.52 per share on an annualized basis after taking into account the acceleration of the payment of the January 2013 dividend into December 2012. The dividend will be paid on April 9, 2013 to stockholders of record as of March 28, 2013. Full Article
Illinois Tool Works Inc Issues Q1 2013 EPS Guidance Below Analysts' Estimates; Comments On Q1 2013 Revenue Guidance; Issues FY 2013 Mixed Guidance
Illinois Tool Works Inc announced that for first quarter of 2013, it expects diluted income per share (EPS) from continuing operations to be in a range of $0.91 to $0.99. The midpoint of this earnings range would represent a 4% increase versus pro forma EPS of $0.91 for the first quarter of 2012. First quarter 2013 total revenue growth is forecasted to be in a range of flat to -2%. For fiscal 2013, it expects diluted income per share from continuing operations to be in a range of $4.13 to $4.37. The midpoint of this earnings range would represent a 13% increase versus pro forma EPS of $3.76 for 2012. Fiscal 2013 total revenue growth is forecasted to be in a range of 3% to 5%. The Company reported revenue of $17.855 billion in fiscal 2012. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $1.02 on revenue of $4.3 billion for first quarter of 2013; EPS of $4.38 on revenue of $17.60 billion for fiscal 2013. Full Article
Illinois Tool Works Inc Declares Change In Payment And Record Dates
Illinois Tool Works Inc announced that change in the payment and record dates of its regular cash dividend previously approved on October 26, 2012. The payment date of the dividend of $0.38 cents per share has been changed to December 31, 2012 from January 8, 2013. The record date has been changed to December 18, 2012 from December 31, 2012. Full Article
Illinois Tool Works Inc's Chairman and CEO David B. Speer Passes Away; E. Scott Santi Elected CEO and Director; Robert S. Morrison Elected Non-Executive Chairman of Board
Illinois Tool Works Inc announced that ITW Chairman and CEO David B. Speer has passed away after an illness. Mr. Speer had been on medical leave since October 2012. Effective immediately, E. Scott Santi has been elected chief executive officer to succeed Mr. Speer. He has also been elected to ITW's board of directors. Mr. Santi was elected president and chief operating officer in October. At that time, he also was named acting chief executive officer in light of Mr. Speer's medical leave. Robert S. Morrison has been elected non-executive Chairman of the Board of Directors. He was named acting non-Executive Chairman in October and has been an independent Director since 2003. Full Article
Illinois Tool Works Inc Issues Q4 2012 EPS Guidance In Line With Analysts' Estimates; Comments On Q4 2012 Revenue Guidance-Conference Call
Illinois Tool Works Inc announced that for fourth quarter of 2012, it expects diluted income per share from continuing operations to be within a range of $0.86 to $0.94, which assumes a total revenue decline of 1% to 4% including currency. According to I/B/E/S estimates, analysts were expecting the Company to report EPS of $0.93 on revenue of $4.15 billion for fourth quarter of 2012. 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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