Brokerages forecast that Illinois Tool Works Inc. (NYSE:ITW) will report earnings per share of $1.83 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Illinois Tool Works’ earnings, with the lowest EPS estimate coming in at $1.79 and the highest estimate coming in at $1.87. Illinois Tool Works reported earnings of $1.70 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is scheduled to report its next earnings results on Wednesday, January 23rd.
According to Zacks, 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 fiscal year, analysts anticipate that the firm will post earnings of $8.10 per share, with EPS estimates ranging from $7.90 to $8.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.02. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.71 earnings per share.
A number of research analysts have recently commented on ITW shares. Seaport Global Securities lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $132.00 in a research report on Thursday, October 25th. ValuEngine lowered shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Credit Suisse Group lowered their target price on shares of Illinois Tool Works from $146.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Finally, Wells Fargo & Co set a $145.00 target price on shares of Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average target price of $147.69.
Shares of ITW opened at $129.47 on Wednesday. The stock has a market cap of $44.22 billion, a PE ratio of 17.84, a P/E/G ratio of 1.77 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 1.26. Illinois Tool Works has a 52 week low of $119.38 and a 52 week high of $179.07.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Monday, December 31st will be paid a $1.00 dividend. 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 3.09%. Illinois Tool Works’s payout ratio is currently 60.70%.
A number of hedge funds and other institutional investors have recently bought and sold shares of ITW. SRS Capital Advisors Inc. grew its stake in Illinois Tool Works by 540.9% during the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock worth $104,000 after buying an additional 622 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Illinois Tool Works by 220.1% during the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after buying an additional 548 shares during the last quarter. Sun Life Financial INC grew its stake in Illinois Tool Works by 277.2% during the second quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock worth $114,000 after buying an additional 607 shares during the last quarter. Fort L.P. bought a new stake in Illinois Tool Works during the second quarter worth about $117,000. Finally, Valley National Advisers Inc. grew its stake in Illinois Tool Works by 180.4% during the third quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock worth $123,000 after buying an additional 563 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Illinois Tool Works Company Profile
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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