Wall Street analysts expect that Illinois Tool Works Inc. (NYSE:ITW) will announce earnings of $1.89 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Illinois Tool Works’ earnings. The lowest EPS estimate is $1.82 and the highest is $1.95. Illinois Tool Works posted earnings per share of $2.11 during the same quarter last year, which would indicate a negative year over year growth rate of 10.4%. The business is scheduled to report its next earnings results before the market opens on Thursday, February 3rd.
According to Zacks, analysts expect that Illinois Tool Works will report full-year earnings of $8.46 per share for the current financial year, with EPS estimates ranging from $8.38 to $8.53. For the next financial year, analysts expect that the firm will post earnings of $9.18 per share, with EPS estimates ranging from $8.78 to $9.89. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Thursday, October 28th. The industrial products company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.01. Illinois Tool Works had a net margin of 19.14% and a return on equity of 78.53%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm earned $1.83 EPS. Illinois Tool Works’s revenue was up 7.5% on a year-over-year basis.
Several brokerages have recently issued reports on ITW. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Illinois Tool Works from $231.00 to $220.00 and set a “hold” rating on the stock in a research note on Friday, December 10th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $239.00 target price on the stock. in a research report on Monday, November 1st. Credit Suisse Group lifted their target price on shares of Illinois Tool Works from $261.00 to $267.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $219.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Friday, October 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Illinois Tool Works from $239.00 to $263.00 and gave the stock a “neutral” rating in a research report on Monday, December 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $236.69.
In other Illinois Tool Works news, SVP Mary Katherine Lawler sold 19,436 shares of the business’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $233.24, for a total value of $4,533,252.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lei Zhang Schlitz sold 8,800 shares of the business’s stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $241.16, for a total transaction of $2,122,208.00. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ITW. Bell Investment Advisors Inc acquired a new position in Illinois Tool Works during the 3rd quarter worth about $28,000. Capital Directions Investment Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC lifted its position in Illinois Tool Works by 106.0% during the 3rd quarter. Eagle Bay Advisors LLC now owns 138 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 71 shares during the period. Liberty Wealth Management LLC lifted its position in Illinois Tool Works by 148.4% during the 3rd quarter. Liberty Wealth Management LLC now owns 159 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 95 shares during the period. Finally, JFS Wealth Advisors LLC lifted its position in Illinois Tool Works by 37.9% during the 3rd quarter. JFS Wealth Advisors LLC now owns 182 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 78.15% of the company’s stock.
Shares of ITW opened at $237.45 on Friday. The firm’s 50 day moving average is $241.63 and its 200-day moving average is $230.71. The stock has a market capitalization of $74.53 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.15 and a beta of 1.10. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.20 and a quick ratio of 1.69. Illinois Tool Works has a 12-month low of $192.89 and a 12-month high of $249.81.
The business also recently announced a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Friday, December 31st were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, December 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 56.74%.
About Illinois Tool Works
Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.
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