Wall Street brokerages forecast that Illinois Tool Works Inc. (NYSE:ITW) will announce $1.97 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Illinois Tool Works’ earnings, with the highest EPS estimate coming in at $2.00 and the lowest estimate coming in at $1.95. Illinois Tool Works reported earnings of $1.66 per share during the same quarter last year, which suggests a positive year over year growth rate of 18.7%. The firm is expected to report its next quarterly earnings results before the market opens on Monday, July 23rd.
According to Zacks, analysts expect that Illinois Tool Works will report full-year earnings of $7.78 per share for the current fiscal year, with EPS estimates ranging from $7.70 to $7.91. For the next financial year, analysts forecast that the business will post earnings of $8.43 per share, with EPS estimates ranging from $8.28 to $8.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Illinois Tool Works.
Get Illinois Tool Works alerts:Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Thursday, April 26th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share.
A number of research analysts have issued reports on ITW shares. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 target price for the company in a research note on Wednesday, June 27th. Deutsche Bank set a $152.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research note on Thursday. ValuEngine cut Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. MED cut Illinois Tool Works from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Thursday. Finally, Wolfe Research started coverage on Illinois Tool Works in a research note on Wednesday, June 27th. They issued an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $172.65.
Hedge funds have recently bought and sold shares of the company. CX Institutional bought a new stake in Illinois Tool Works during the second quarter worth about $101,000. Clearwater Capital Advisors LLC bought a new stake in Illinois Tool Works during the first quarter worth about $117,000. Parisi Gray Wealth Management raised its holdings in Illinois Tool Works by 88.8% during the first quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 372 shares in the last quarter. Archford Capital Strategies LLC bought a new stake in Illinois Tool Works during the first quarter worth about $130,000. Finally, Summit Trail Advisors LLC raised its holdings in Illinois Tool Works by 15,135.9% during the first quarter. Summit Trail Advisors LLC now owns 132,248 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 131,380 shares in the last quarter. 77.02% of the stock is owned by institutional investors.
Illinois Tool Works traded up $0.99, reaching $142.60, on Friday, according to Marketbeat Ratings. The company had a trading volume of 29,419 shares, compared to its average volume of 1,555,233. The company has a market capitalization of $48.80 billion, a PE ratio of 21.60, a P/E/G ratio of 1.83 and a beta of 1.24. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 1.65. Illinois Tool Works has a 52 week low of $135.07 and a 52 week high of $179.07.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 11th. Stockholders of record on Friday, June 29th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, June 28th. This represents a $3.12 annualized dividend and a dividend yield of 2.19%. Illinois Tool Works’s dividend payout ratio is currently 47.34%.
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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