$1.62 EPS Expected for Illinois Tool Works Inc. (ITW) This Quarter
Wall Street analysts predict that Illinois Tool Works Inc. (NYSE:ITW) will post earnings of $1.62 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Illinois Tool Works’ earnings. The lowest EPS estimate is $1.58 and the highest is $1.65. Illinois Tool Works posted earnings of $1.39 per share during the same quarter last year, which suggests a positive year over year growth rate of 16.5%. The business is expected to report its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that Illinois Tool Works will report full year earnings of $6.70 per share for the current financial year, with EPS estimates ranging from $6.66 to $6.73. For the next fiscal year, analysts anticipate that the company will report earnings of $7.15 per share, with EPS estimates ranging from $7.00 to $7.25. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS.
Several brokerages have recently issued reports on ITW. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and set a $147.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. BidaskClub lowered Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $157.27.
Illinois Tool Works (NYSE:ITW) opened at $157.83 on Wednesday. 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 stock has a market capitalization of $54,127.22, a PE ratio of 25.08, a PEG ratio of 2.36 and a beta of 1.16. Illinois Tool Works has a 52 week low of $115.00 and a 52 week high of $159.36.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.98%. Illinois Tool Works’s payout ratio is currently 47.78%.
In other news, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at $14,984,608.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John R. Hartnett sold 6,533 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The disclosure for this sale can be found here. Insiders sold 126,506 shares of company stock valued at $19,801,832 over the last quarter. Insiders own 0.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ITW. Macquarie Group Ltd. lifted its holdings in Illinois Tool Works by 1.8% during the 3rd quarter. Macquarie Group Ltd. now owns 112,513 shares of the industrial products company’s stock worth $16,648,000 after buying an additional 2,021 shares during the last quarter. Vaughan David Investments Inc. IL increased its position in Illinois Tool Works by 34,278.6% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock valued at $35,779,000 after acquiring an additional 936,835 shares during the period. Novare Capital Management LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $593,000. Spectrum Management Group Inc. increased its position in Illinois Tool Works by 7.1% in the 3rd quarter. Spectrum Management Group Inc. now owns 13,927 shares of the industrial products company’s stock valued at $2,061,000 after acquiring an additional 924 shares during the period. Finally, SG Americas Securities LLC increased its position in Illinois Tool Works by 159.8% in the 3rd quarter. SG Americas Securities LLC now owns 37,991 shares of the industrial products company’s stock valued at $5,621,000 after acquiring an additional 23,369 shares during the period. 75.01% of the stock is owned by hedge funds and other institutional investors.
Illinois Tool Works Company Profile
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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