Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Premier manufacturer of industrial products and equipment, Illinois Tool Works Inc. (ITW - Analyst Report) recently declared an exchange offer of its unregistered old notes with new notes registered under the Securities Act of 1993.

Accordingly, the company’s outstanding 3.375% old notes due to mature in 2021 and 4.875% old notes due to mature in 2041 will be exchanged with a maximum of $350 million of its 3.375% new notes maturing in 2021 and maximum of $650 million of its 4.875% new notes with maturity due in 2041.

The new notes are completely identical with the old notes and they are not likely to bear any transfer restriction. Additionally, the exchange offer is valid till June 27, 2012.  The company holds the right to extend or terminate the date of the exchange offer as well as to withdraw the tender on or before June 27, 2012. 

The company’s earnings per share from continuing operations were 97 cents in first quarter of fiscal 2012, representing a year-over-year increase of 10.2%. Operating revenue in the first quarter increased 6.4% year over year to $4,547 million. The year–over-year increase in operating revenue symbolized continued improvement in end market demand.

The company pertains to an industry where ominous competition is prevalent. The company’s chief competitors include DXP Enterprises, Inc. (DXPE - Snapshot Report), Kadant Inc. (KAI - Snapshot Report) and METSO CP ADS .

The Zacks Consensus Estimate for the first quarter of fiscal 2012 and full year of fiscal 2012 are $1.11 and $4.25, respectively. Currently, the stock bears a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating. Additionally, we maintain a long-term ‘Neutral’ recommendation on the stock.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%