Brokerages Anticipate Illinois Tool Works Inc. (ITW) Will Announce Quarterly Sales of $3.74 Billion

Analysts predict that Illinois Tool Works Inc. (NYSE:ITW) will announce sales of $3.74 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Illinois Tool Works’ earnings. The lowest sales estimate is $3.68 billion and the highest is $3.84 billion. Illinois Tool Works posted sales of $3.83 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.3%. The company is scheduled to report its next earnings report on Monday, July 22nd.

On average, analysts expect that Illinois Tool Works will report full year sales of $14.65 billion for the current financial year, with estimates ranging from $14.56 billion to $14.79 billion. For the next fiscal year, analysts forecast that the business will post sales of $14.98 billion, with estimates ranging from $14.77 billion to $15.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.81 EPS for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.01. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Illinois Tool Works had a net margin of 17.21% and a return on equity of 72.74%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share.

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $137.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. Morgan Stanley set a $134.00 target price on shares of Illinois Tool Works and gave the stock a “sell” rating in a research note on Friday, April 26th. Citigroup set a $161.00 target price on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Argus lifted their target price on shares of Illinois Tool Works from $145.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $142.59.

ITW stock traded down $1.18 during trading on Friday, reaching $149.42. 992,585 shares of the stock were exchanged, compared to its average volume of 1,384,073. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.53 and a quick ratio of 1.19. Illinois Tool Works has a 1 year low of $117.75 and a 1 year high of $158.69. The company has a market capitalization of $49.06 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.46 and a beta of 1.21.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, June 27th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 52.63%.

In other Illinois Tool Works news, EVP Juan Valls sold 52,265 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total transaction of $7,443,058.65. Following the completion of the transaction, the executive vice president now owns 78,620 shares in the company, valued at approximately $11,196,274.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Hartnett sold 14,323 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $153.55, for a total transaction of $2,199,296.65. Following the transaction, the executive vice president now owns 31,695 shares of the company’s stock, valued at approximately $4,866,767.25. The disclosure for this sale can be found here. Insiders have sold a total of 110,142 shares of company stock valued at $15,992,093 in the last quarter. 0.87% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ITW. Pearl River Capital LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth approximately $25,000. Golden State Wealth Management LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $25,000. Rational Advisors LLC lifted its position in shares of Illinois Tool Works by 1,492.3% during the 4th quarter. Rational Advisors LLC now owns 207 shares of the industrial products company’s stock worth $26,000 after buying an additional 194 shares during the last quarter. WP Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $28,000. Finally, Mark Sheptoff Financial Planning LLC lifted its position in shares of Illinois Tool Works by 512.8% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Institutional investors own 78.58% 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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