Equities research analysts expect Illinois Tool Works Inc. (NYSE:ITW) to report $1.83 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Illinois Tool Works’ earnings. The highest EPS estimate is $1.87 and the lowest is $1.79. Illinois Tool Works posted earnings of $1.70 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7.6%. The firm is scheduled to issue its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Illinois Tool Works will report full year earnings of $7.60 per share for the current year, with EPS estimates ranging from $7.56 to $7.64. For the next financial year, analysts anticipate that the business will report earnings of $8.10 per share, with EPS estimates ranging from $7.90 to $8.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.02. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis.

A number of research analysts have recently commented on ITW shares. Wells Fargo & Co reiterated a “buy” rating and issued a $150.00 price target (down from $160.00) on shares of Illinois Tool Works in a research note on Wednesday, October 17th. Citigroup set a $148.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. Morgan Stanley started coverage on Illinois Tool Works in a research note on Monday, August 20th. They issued an “equal weight” rating and a $146.00 price target for the company. Deutsche Bank set a $134.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, ValuEngine upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Illinois Tool Works presently has a consensus rating of “Hold” and a consensus target price of $147.69.

Shares of ITW traded down $6.68 during trading hours on Wednesday, reaching $132.76. The stock had a trading volume of 2,440,307 shares, compared to its average volume of 1,363,440. Illinois Tool Works has a 12 month low of $119.38 and a 12 month high of $179.07. The stock has a market capitalization of $46.14 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.85 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 31st will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 3.01%. Illinois Tool Works’s payout ratio is currently 60.70%.

A number of institutional investors have recently modified their holdings of ITW. Massachusetts Financial Services Co. MA grew its stake in shares of Illinois Tool Works by 25.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,912,686 shares of the industrial products company’s stock valued at $975,518,000 after buying an additional 1,401,794 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Illinois Tool Works by 20.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,803,640 shares of the industrial products company’s stock valued at $677,888,000 after buying an additional 830,998 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Illinois Tool Works in the 2nd quarter valued at about $109,837,000. BlackRock Inc. grew its stake in shares of Illinois Tool Works by 2.5% in the 3rd quarter. BlackRock Inc. now owns 21,290,319 shares of the industrial products company’s stock valued at $3,004,489,000 after buying an additional 528,550 shares during the period. Finally, Bristol John W & Co. Inc. NY acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at about $55,822,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

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