Illinois Tool Works Inc. (ITW) Expected to Announce Earnings of $1.62 Per Share
Brokerages predict that Illinois Tool Works Inc. (NYSE:ITW) will post earnings of $1.62 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Illinois Tool Works’ earnings. The highest EPS estimate is $1.65 and the lowest is $1.58. Illinois Tool Works posted earnings of $1.39 per share in the same quarter last year, which suggests a positive year over year growth rate of 16.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that Illinois Tool Works will report full year earnings of $6.70 per share for the current fiscal year, with EPS estimates ranging from $6.66 to $6.73. For the next financial year, analysts expect that the firm will post earnings of $7.15 per share, with EPS estimates ranging from $7.00 to $7.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm posted $1.50 EPS. The business’s revenue was up 3.4% on a year-over-year basis.
A number of research firms recently weighed in on ITW. BMO Capital Markets raised their price target on Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, October 24th. Morgan Stanley raised their price target on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Stifel Nicolaus dropped their price target on Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $157.27.
In related news, VP Norman D. Jr. Finch purchased 4,986 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the transaction, the vice president now directly owns 4,371 shares of the company’s stock, valued at $683,362.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the completion of the transaction, the insider now owns 18,622 shares in the company, valued at $2,886,410. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock worth $19,801,832 over the last 90 days. 0.90% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Omnia Family Wealth LLC boosted its position in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the last quarter. Private Vista LLC lifted its holdings in Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares in the last quarter. Harding Loevner LP bought a new position in Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP lifted its holdings in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.
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Illinois Tool Works (NYSE ITW) traded up $0.79 during mid-day trading on Wednesday, reaching $157.14. The company had a trading volume of 757,000 shares, compared to its average volume of 1,212,340. Illinois Tool Works has a 12-month low of $120.06 and a 12-month high of $159.36. The firm has a market cap of $53,565.36, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. Illinois Tool Works’s dividend payout ratio is currently 47.78%.
About Illinois Tool Works
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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