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Feb. 16, 2004, 1:09 p.m. EST

Illinois Tool Works reaffirms targets

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By Carolyn Pritchard, CBS MarketWatch.com

SAN FRANCISCO (CBS.MW) -- Illinois Tool Works on Monday reaffirmed its earnings forecast for both the first quarter and the year.

The Glenview, Ill.-based diversified manufacturer said it continues to see first-quarter earnings from continuing operations of 73 cents to 81 cents a share. For the year, Illinois Tool /zigman2/quotes/208031922/composite ITW -2.90% reaffirmed its forecast for earnings from continuing operations of between $3.66 and $3.96 a share.

Analysts are currently looking for earnings of 78 cents a share for the first quarter and $3.84 a share for the full year, according to Thomson First Call.

Illinois Tool also reported an 8 percent increase in operating revenue for the three months ended Jan. 31.

Shares of Illinois Tool closed Friday at $78.84, down 99 cents, or 1.2 percent.

/zigman2/quotes/208031922/composite
US : U.S.: NYSE
$ 234.75
-7.01 -2.90%
Volume: 1.06M
Nov. 26, 2021 1:10p
P/E Ratio
27.31
Dividend Yield
2.08%
Market Cap
$75.88 billion
Rev. per Employee
$292,419
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Carolyn Pritchard is a reporter for CBS.MarketWatch.com in San Francisco.

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