Wall Street brokerages expect Illinois Tool Works (NYSE:ITW) to report $1.96 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Illinois Tool Works’ earnings, with estimates ranging from $1.95 to $1.99. Illinois Tool Works reported earnings per share of $1.66 during the same quarter last year, which would indicate a positive year over year growth rate of 18.1%. The company is scheduled to report its next quarterly earnings report 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 financial year, with EPS estimates ranging from $7.70 to $7.91. For the next year, analysts anticipate that the business will report earnings of $8.43 per share, with EPS estimates ranging from $8.28 to $8.72. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Illinois Tool Works.
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Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.04. Illinois Tool Works had a net margin of 12.36% and a return on equity of 51.79%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. Wells Fargo upped their price target on shares of Illinois Tool Works from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase upped their price target on shares of Illinois Tool Works from $160.00 to $168.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Credit Suisse Group upped their price target on shares of Illinois Tool Works from $163.00 to $166.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. BMO Capital Markets upped their price target on shares of Illinois Tool Works from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Finally, Jefferies Group restated a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $177.67.
Shares of Illinois Tool Works stock traded down $1.65 during trading on Wednesday, hitting $144.31. 1,858,946 shares of the stock were exchanged, compared to its average volume of 1,546,357. The firm has a market capitalization of $49.29 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 2.20. Illinois Tool Works has a 12 month low of $144.54 and a 12 month high of $146.36.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, June 28th. Illinois Tool Works’s payout ratio is currently 47.34%.
A number of hedge funds have recently bought and sold shares of ITW. Almanack Investment Partners LLC. acquired a new stake in Illinois Tool Works in the fourth quarter worth about $112,000. Legacy Advisors LLC lifted its holdings in Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 623 shares during the period. Clearwater Capital Advisors LLC acquired a new stake in Illinois Tool Works in the first quarter worth about $117,000. Santori & Peters Inc. acquired a new stake in Illinois Tool Works in the fourth quarter worth about $121,000. Finally, Parisi Gray Wealth Management lifted its holdings in 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 worth $123,000 after purchasing an additional 372 shares during the period. 78.16% of the stock is owned by institutional investors and hedge funds.
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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