Equities research analysts expect Illinois Tool Works Inc. (NYSE:ITW) to report sales of $3.73 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with the highest sales estimate coming in at $3.77 billion and the lowest estimate coming in at $3.64 billion. Illinois Tool Works posted sales of $3.62 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The business is scheduled to issue its next quarterly earnings results on Monday, October 22nd.

According to Zacks, analysts expect that Illinois Tool Works will report full year sales of $15.01 billion for the current financial year, with estimates ranging from $14.87 billion to $15.08 billion. For the next year, analysts anticipate that the business will post sales of $15.46 billion per share, with estimates ranging from $15.14 billion to $15.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 23rd. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.97. Illinois Tool Works had a return on equity of 56.74% and a net margin of 12.70%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year.

Several research analysts recently commented on ITW shares. ValuEngine upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. BMO Capital Markets dropped their price target on Illinois Tool Works from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Friday, May 4th. Deutsche Bank set a $152.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, July 12th. MED lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Thursday, July 12th. Finally, Wolfe Research started coverage on Illinois Tool Works in a research report on Wednesday, June 27th. They issued an “underperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $159.53.

Shares of ITW stock opened at $138.56 on Friday. Illinois Tool Works has a 12-month low of $134.45 and a 12-month high of $179.07. The company has a current ratio of 1.73, a quick ratio of 1.35 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $46.32 billion, a PE ratio of 21.03, a PEG ratio of 1.77 and a beta of 1.25.

Illinois Tool Works declared that its Board of Directors has initiated a stock buyback plan on Friday, August 3rd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 9th. Shareholders of record on Friday, September 28th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, September 27th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.78. Illinois Tool Works’s payout ratio is 47.34%.

In other Illinois Tool Works news, Director Richard H. Lenny bought 1,778 shares of the company’s stock in a transaction on Friday, July 27th. The stock was acquired at an average price of $140.85 per share, for a total transaction of $250,431.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Tredje AP fonden boosted its holdings in shares of Illinois Tool Works by 1.1% in the first quarter. Tredje AP fonden now owns 32,524 shares of the industrial products company’s stock valued at $5,121,000 after purchasing an additional 350 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Illinois Tool Works by 6.3% in the second quarter. North Star Investment Management Corp. now owns 6,085 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 362 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of Illinois Tool Works by 3.7% in the first quarter. KCM Investment Advisors LLC now owns 10,291 shares of the industrial products company’s stock valued at $1,612,000 after purchasing an additional 369 shares during the period. Zeke Capital Advisors LLC boosted its holdings in shares of Illinois Tool Works by 6.5% in the first quarter. Zeke Capital Advisors LLC now owns 6,073 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 371 shares during the period. Finally, Parisi Gray Wealth Management boosted its holdings in shares of Illinois Tool Works by 88.8% in the first quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 372 shares during the period. Institutional investors and hedge funds own 76.11% of the company’s stock.

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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