Equities research analysts forecast that Illinois Tool Works Inc. (NYSE:ITW) will post sales of $3.54 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Illinois Tool Works’ earnings. The lowest sales estimate is $3.49 billion and the highest is $3.59 billion. Illinois Tool Works reported sales of $3.61 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The company is expected to report its next quarterly earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Illinois Tool Works will report full-year sales of $14.26 billion for the current year, with estimates ranging from $14.15 billion to $14.66 billion. For the next fiscal year, analysts forecast that the company will report sales of $14.55 billion, with estimates ranging from $14.39 billion to $15.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.03. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the business earned $1.97 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis.
In other Illinois Tool Works news, insider Michael R. Zimmerman sold 9,325 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,492,000.00. Following the sale, the insider now directly owns 16,315 shares of the company’s stock, valued at $2,610,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven L. Martindale sold 48,622 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total value of $7,579,197.36. Following the sale, the executive vice president now directly owns 84,546 shares in the company, valued at $13,179,030.48. The disclosure for this sale can be found here. Insiders have sold 72,878 shares of company stock worth $11,313,386 over the last three months. 0.87% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ITW. Smith Shellnut Wilson LLC ADV grew its stake in shares of Illinois Tool Works by 3.8% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 2,014 shares of the industrial products company’s stock valued at $304,000 after buying an additional 73 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Illinois Tool Works by 10.5% during the second quarter. Valeo Financial Advisors LLC now owns 788 shares of the industrial products company’s stock valued at $119,000 after buying an additional 75 shares during the last quarter. ETF Managers Group LLC grew its stake in shares of Illinois Tool Works by 8.9% during the first quarter. ETF Managers Group LLC now owns 926 shares of the industrial products company’s stock valued at $133,000 after buying an additional 76 shares during the last quarter. Capital Investment Advisory Services LLC grew its stake in Illinois Tool Works by 3.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,156 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 79 shares in the last quarter. Finally, Trillium Asset Management LLC grew its stake in Illinois Tool Works by 0.7% in the first quarter. Trillium Asset Management LLC now owns 12,099 shares of the industrial products company’s stock worth $1,737,000 after purchasing an additional 79 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.
Shares of Illinois Tool Works stock traded down $0.32 during trading hours on Friday, hitting $151.81. The company’s stock had a trading volume of 573,433 shares, compared to its average volume of 1,348,795. The business has a 50 day moving average price of $151.12 and a two-hundred day moving average price of $148.57. Illinois Tool Works has a 12-month low of $117.75 and a 12-month high of $160.78. The company has a market cap of $49.50 billion, a PE ratio of 19.98, a PEG ratio of 2.57 and a beta of 1.23. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 30th will be given a $1.07 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.00. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Friday, September 27th. Illinois Tool Works’s payout ratio is currently 52.63%.
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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