Zacks: Analysts Expect Illinois Tool Works Inc. (ITW) to Announce $1.80 Earnings Per Share

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Analysts predict that Illinois Tool Works Inc. (NYSE:ITW) will report earnings of $1.80 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Illinois Tool Works’ earnings, with the lowest EPS estimate coming in at $1.74 and the highest estimate coming in at $1.84. Illinois Tool Works reported earnings of $1.90 per share during the same quarter last year, which suggests a negative year over year growth rate of 5.3%. The firm is scheduled to report its next earnings report on Thursday, April 25th.

On average, analysts expect that Illinois Tool Works will report full year earnings of $7.97 per share for the current fiscal year, with EPS estimates ranging from $7.80 to $8.15. For the next financial year, analysts forecast that the business will post earnings of $8.45 per share, with EPS estimates ranging from $8.20 to $8.75. Zacks’ earnings per share calculations 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, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis.

A number of research analysts have recently commented on the company. Citigroup cut Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price target on the stock. in a research report on Monday, January 14th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $128.00 to $124.00 in a research report on Tuesday, February 5th. Morgan Stanley cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $131.00 to $115.00 in a research report on Tuesday, December 18th. Deutsche Bank cut Illinois Tool Works from a “hold” rating to a “sell” rating and dropped their price target for the company from $133.00 to $125.00 in a research report on Sunday, December 16th. Finally, JPMorgan Chase & Co. cut Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Thursday, January 10th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $136.60.

ITW stock traded down $1.72 during midday trading on Friday, hitting $143.18. The company’s stock had a trading volume of 4,524,433 shares, compared to its average volume of 1,536,657. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85. Illinois Tool Works has a 1 year low of $117.75 and a 1 year high of $171.83. The stock has a market cap of $47.54 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.35 and a beta of 1.20.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

In other news, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the transaction, the insider now directly owns 71,927 shares in the company, valued at approximately $10,486,237.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Hartnett sold 14,500 shares of the company’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total value of $1,986,500.00. Following the completion of the transaction, the executive vice president now owns 29,448 shares of the company’s stock, valued at $4,034,376. The disclosure for this sale can be found here. Insiders sold a total of 128,970 shares of company stock worth $18,348,472 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Douglas Lane & Associates LLC increased its position in Illinois Tool Works by 1.8% during the 4th quarter. Douglas Lane & Associates LLC now owns 116,094 shares of the industrial products company’s stock valued at $14,708,000 after buying an additional 2,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Illinois Tool Works by 1.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,028 shares of the industrial products company’s stock valued at $9,252,000 after acquiring an additional 965 shares during the period. United Capital Management of KS Inc. raised its holdings in Illinois Tool Works by 16.5% during the fourth quarter. United Capital Management of KS Inc. now owns 10,132 shares of the industrial products company’s stock valued at $1,284,000 after acquiring an additional 1,435 shares during the period. Donaldson Capital Management LLC raised its holdings in Illinois Tool Works by 14.9% during the third quarter. Donaldson Capital Management LLC now owns 188,231 shares of the industrial products company’s stock valued at $26,563,000 after acquiring an additional 24,454 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Illinois Tool Works by 1.9% during the third quarter. Toronto Dominion Bank now owns 207,387 shares of the industrial products company’s stock valued at $29,260,000 after acquiring an additional 3,884 shares during the period. Hedge funds and other institutional investors own 77.50% 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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