$3.42 Billion in Sales Expected for Illinois Tool Works Inc. (NYSE:ITW) This Quarter


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Wall Street analysts predict that Illinois Tool Works Inc. (NYSE:ITW) will report $3.42 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with estimates ranging from $3.34 billion to $3.51 billion. Illinois Tool Works reported sales of $3.23 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The company is expected to issue its next earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that Illinois Tool Works will report full-year sales of $13.98 billion for the current year, with estimates ranging from $13.90 billion to $14.16 billion. For the next financial year, analysts expect that the firm will report sales of $14.63 billion, with estimates ranging from $14.46 billion to $15.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, February 4th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.23. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm earned $1.87 earnings per share. The business’s revenue was up .2% on a year-over-year basis.

Several research firms have recently issued reports on ITW. BMO Capital Markets raised their price objective on Illinois Tool Works from $205.00 to $225.00 in a report on Monday, October 26th. Bank of America upgraded Illinois Tool Works from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $175.00 to $212.00 in a report on Thursday, October 29th. Barclays lifted their target price on Illinois Tool Works from $200.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday, January 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Illinois Tool Works from $96.00 to $206.00 and gave the company a “hold” rating in a report on Monday, February 8th. Finally, Wells Fargo & Company boosted their price objective on Illinois Tool Works from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $203.65.

Shares of ITW stock traded up $0.51 during mid-day trading on Tuesday, hitting $201.53. 871,859 shares of the company’s stock were exchanged, compared to its average volume of 1,036,537. Illinois Tool Works has a fifty-two week low of $115.94 and a fifty-two week high of $224.69. The stock has a 50-day simple moving average of $202.33 and a two-hundred day simple moving average of $201.52. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81. The stock has a market cap of $63.82 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.88 and a beta of 1.07.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 14th. Shareholders of record on Wednesday, March 31st will be paid a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $4.56 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s payout ratio is currently 58.84%.

In other news, VP Norman D. Jr. Finch sold 7,232 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $203.00, for a total transaction of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of the business’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total value of $252,810.47. Following the transaction, the chief executive officer now owns 295,172 shares of the company’s stock, valued at $60,619,473.64. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ascension Asset Management LLC acquired a new stake in Illinois Tool Works in the third quarter worth approximately $2,016,000. Capital Investment Advisory Services LLC lifted its position in Illinois Tool Works by 31.5% in the third quarter. Capital Investment Advisory Services LLC now owns 2,068 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 495 shares during the period. McGuire Investment Group LLC lifted its position in Illinois Tool Works by 0.7% in the third quarter. McGuire Investment Group LLC now owns 39,184 shares of the industrial products company’s stock worth $7,571,000 after purchasing an additional 254 shares during the period. Louisiana State Employees Retirement System lifted its position in Illinois Tool Works by 17.7% in the third quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the industrial products company’s stock worth $2,821,000 after purchasing an additional 2,200 shares during the period. Finally, Great Diamond Partners LLC increased its holdings in shares of Illinois Tool Works by 2.0% in the third quarter. Great Diamond Partners LLC now owns 8,242 shares of the industrial products company’s stock valued at $1,592,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 77.44% 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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Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

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