Illinois Tool Works Inc. (NYSE:ITW) Expected to Announce Earnings of $1.86 Per Share

Equities analysts expect that Illinois Tool Works Inc. (NYSE:ITW) will post earnings per share of $1.86 for the current quarter, according to Zacks. Seven analysts have made estimates for Illinois Tool Works’ earnings. The highest EPS estimate is $1.92 and the lowest is $1.82. Illinois Tool Works reported earnings per share of $1.83 during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is expected to announce its next quarterly earnings results on Friday, February 7th.

According to Zacks, analysts expect that Illinois Tool Works will report full year earnings of $7.61 per share for the current financial year, with EPS estimates ranging from $7.58 to $7.65. For the next financial year, analysts expect that the firm will post earnings of $7.91 per share, with EPS estimates ranging from $7.70 to $8.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Friday, October 25th. The industrial products company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.10. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Illinois Tool Works had a net margin of 17.49% and a return on equity of 80.38%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS.

A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a report on Monday, October 28th. Seaport Global Securities reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, October 28th. Morgan Stanley reduced their price target on shares of Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating on the stock in a report on Wednesday, October 16th. Citigroup reduced their price target on shares of Illinois Tool Works from $158.00 to $155.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Credit Suisse Group lifted their price target on shares of Illinois Tool Works from $144.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $149.00.

Shares of ITW traded up $2.23 during trading hours on Friday, reaching $179.10. 921,735 shares of the stock traded hands, compared to its average volume of 1,283,288. The company has a current ratio of 2.81, a quick ratio of 2.27 and a debt-to-equity ratio of 2.57. Illinois Tool Works has a 52-week low of $117.75 and a 52-week high of $179.78. The company’s 50-day moving average price is $173.40 and its two-hundred day moving average price is $156.71. The company has a market cap of $56.72 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.96 and a beta of 1.21.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 56.32%.

In other news, CEO Ernest Scott Santi sold 152,594 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $169.05, for a total value of $25,796,015.70. Following the sale, the chief executive officer now directly owns 150,922 shares in the company, valued at approximately $25,513,364.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randall J. Scheuneman sold 11,977 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.63, for a total transaction of $2,055,612.51. Following the completion of the sale, the chief accounting officer now owns 18,649 shares in the company, valued at $3,200,727.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 245,669 shares of company stock worth $41,624,681. Insiders own 0.87% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. D Orazio & Associates Inc. bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth about $28,000. Strategic Blueprint LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $31,000. Garrett Wealth Advisory Group LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $33,000. B & T Capital Management DBA Alpha Capital Management bought a new position in Illinois Tool Works during the 3rd quarter valued at about $34,000. Finally, Usca Ria LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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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Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

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