$1.96 Earnings Per Share Expected for Illinois Tool Works Inc. (NYSE:ITW) This Quarter

Wall Street analysts forecast that Illinois Tool Works Inc. (NYSE:ITW) will post earnings per share of $1.96 for the current quarter, Zacks reports. Seven analysts have made estimates for Illinois Tool Works’ earnings, with the highest EPS estimate coming in at $1.99 and the lowest estimate coming in at $1.93. Illinois Tool Works posted earnings of $1.90 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The firm is scheduled to report its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Illinois Tool Works will report full year earnings of $7.64 per share for the current year, with EPS estimates ranging from $7.57 to $7.75. For the next fiscal year, analysts forecast that the firm will post earnings of $8.12 per share, with EPS estimates ranging from $7.80 to $8.40. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping the Zacks’ 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 company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the business earned $1.97 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year.

A number of analysts have weighed in on ITW shares. Northcoast Research cut Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target for the company. in a research report on Wednesday, June 26th. UBS Group raised their price objective on Illinois Tool Works from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Zacks Investment Research lowered Illinois Tool Works from a “hold” rating to a “sell” rating and set a $154.00 target price for the company. in a report on Tuesday, July 9th. Credit Suisse Group lifted their price target on shares of Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price objective on Illinois Tool Works from $143.00 to $154.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $142.33.

In related news, insider Michael R. Zimmerman sold 9,325 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the sale, the insider now owns 16,315 shares of the company’s stock, valued at $2,610,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven L. Martindale sold 48,622 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the completion of the transaction, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at approximately $13,179,030.48. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Hexavest Inc. acquired a new stake in Illinois Tool Works in the second quarter worth about $26,000. Asset Dedication LLC grew its stake in shares of Illinois Tool Works by 105.3% during the second quarter. Asset Dedication LLC now owns 195 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Weaver Consulting Group acquired a new stake in shares of Illinois Tool Works during the first quarter worth $32,000. Mark Sheptoff Financial Planning LLC increased its holdings in Illinois Tool Works by 512.8% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 239 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Lenox Wealth Management Inc. lifted its stake in Illinois Tool Works by 54.1% in the first quarter. Lenox Wealth Management Inc. now owns 285 shares of the industrial products company’s stock valued at $41,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Illinois Tool Works stock traded up $2.18 during mid-day trading on Friday, hitting $159.54. 1,229,109 shares of the company’s stock were exchanged, compared to its average volume of 1,343,319. Illinois Tool Works has a 1-year low of $117.75 and a 1-year high of $160.78. The stock has a 50 day moving average of $150.94 and a two-hundred day moving average of $149.54. The company has a current ratio of 2.87, a quick ratio of 2.30 and a debt-to-equity ratio of 2.52. The stock has a market cap of $49.72 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.72 and a beta of 1.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 30th will be paid a $1.07 dividend. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.68%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

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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