Zacks: Analysts Expect Illinois Tool Works Inc. (NYSE:ITW) Will Post Quarterly Sales of $3.39 Billion


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Wall Street analysts expect Illinois Tool Works Inc. (NYSE:ITW) to report $3.39 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with the lowest sales estimate coming in at $3.07 billion and the highest estimate coming in at $3.58 billion. Illinois Tool Works posted sales of $2.56 billion in the same quarter last year, which would indicate a positive year over year growth rate of 32.4%. The company is scheduled to issue its next quarterly earnings report on Friday, July 30th.

According to Zacks, analysts expect that Illinois Tool Works will report full-year sales of $14.34 billion for the current year, with estimates ranging from $14.29 billion to $14.41 billion. For the next fiscal year, analysts anticipate that the business will post sales of $14.67 billion, with estimates ranging from $14.50 billion to $15.10 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Friday, April 30th. The industrial products company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.21. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis.

ITW has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Illinois Tool Works from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, January 15th. Morgan Stanley boosted their price target on Illinois Tool Works from $189.00 to $207.00 and gave the company an “underweight” rating in a research note on Monday. Vertical Research raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Monday, January 4th. Credit Suisse Group boosted their price target on Illinois Tool Works from $242.00 to $261.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Illinois Tool Works from $217.00 to $227.00 and gave the stock a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $214.59.

In other news, CEO Ernest Scott Santi sold 1,231 shares of the stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total transaction of $252,810.47. Following the completion of the transaction, the chief executive officer now owns 295,172 shares in the company, valued at approximately $60,619,473.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. 0.79% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Laurel Wealth Advisors LLC boosted its stake in Illinois Tool Works by 5.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 944 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 45 shares during the period. Radnor Capital Management LLC raised its holdings in shares of Illinois Tool Works by 0.7% in the 4th quarter. Radnor Capital Management LLC now owns 7,734 shares of the industrial products company’s stock valued at $1,577,000 after acquiring an additional 50 shares in the last quarter. San Francisco Sentry Investment Group CA raised its holdings in shares of Illinois Tool Works by 0.4% in the 1st quarter. San Francisco Sentry Investment Group CA now owns 12,515 shares of the industrial products company’s stock valued at $2,772,000 after acquiring an additional 50 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Illinois Tool Works by 32.5% in the 4th quarter. Rosenberg Matthew Hamilton now owns 208 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 51 shares in the last quarter. Finally, TrinityPoint Wealth LLC raised its holdings in shares of Illinois Tool Works by 2.0% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,560 shares of the industrial products company’s stock valued at $511,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.

ITW stock traded up $2.42 during trading on Tuesday, hitting $235.98. The company had a trading volume of 1,117,581 shares, compared to its average volume of 1,113,328. The business has a 50-day moving average of $223.92 and a 200-day moving average of $209.52. Illinois Tool Works has a one year low of $148.66 and a one year high of $236.70. The stock has a market cap of $74.68 billion, a PE ratio of 35.75, a PEG ratio of 3.88 and a beta of 1.07. The company has a current ratio of 2.37, a quick ratio of 1.92 and a debt-to-equity ratio of 2.81.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st were paid a $1.14 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a yield of 1.93%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 58.84%.

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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