Illinois Tool Works Inc. (ITW) Scheduled to Post Quarterly Earnings on Thursday
Illinois Tool Works Inc. (NYSE:ITW) is scheduled to announce its earnings results on Thursday, October 20th. Analysts expect the company to announce earnings of $1.49 per share for the quarter.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. Illinois Tool Works had a net margin of 14.65% and a return on equity of 38.15%. Illinois Tool Works’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $1.30 EPS. On average, analysts expect Illinois Tool Works to post $5.62 EPS for the current fiscal year and $6.13 EPS for the next fiscal year.
Shares of Illinois Tool Works Inc. (NYSE:ITW) opened at 115.08 on Wednesday. Illinois Tool Works Inc. has a 12 month low of $79.15 and a 12 month high of $123.50. The firm has a market capitalization of $40.85 billion, a P/E ratio of 21.43 and a beta of 1.11. The company has a 50 day moving average of $118.03 and a 200-day moving average of $111.03.
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The company also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 30th were issued a dividend of $0.65 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.55. This represents a $2.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, September 28th. Illinois Tool Works’s payout ratio is 48.42%.
Several research firms have recently weighed in on ITW. Zacks Investment Research cut Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday, July 11th. Deutsche Bank AG boosted their price target on Illinois Tool Works from $119.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Royal Bank Of Canada boosted their price target on Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 21st. Robert W. Baird cut Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price target on the stock. in a report on Thursday, June 23rd. Finally, RBC Capital Markets restated a “sector perform” rating and set a $104.00 price target (up from $101.00) on shares of Illinois Tool Works in a report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and an average target price of $110.20.
In other news, Vice Chairman David C. Parry sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $118.49, for a total transaction of $4,739,600.00. Following the transaction, the insider now owns 40,584 shares of the company’s stock, valued at $4,808,798.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sundaram Nagarajan sold 4,560 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $119.50, for a total value of $544,920.00. Following the transaction, the insider now directly owns 24,777 shares in the company, valued at approximately $2,960,851.50. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crawford Investment Counsel Inc. boosted its position in Illinois Tool Works by 8.1% in the second quarter. Crawford Investment Counsel Inc. now owns 3,106 shares of the company’s stock worth $324,000 after buying an additional 234 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Illinois Tool Works by 11.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,957 shares of the company’s stock worth $933,000 after buying an additional 944 shares in the last quarter. Employees Retirement System of Texas boosted its position in Illinois Tool Works by 21.1% in the second quarter. Employees Retirement System of Texas now owns 23,000 shares of the company’s stock worth $2,396,000 after buying an additional 4,000 shares in the last quarter. Advisor Partners LLC boosted its position in Illinois Tool Works by 0.5% in the second quarter. Advisor Partners LLC now owns 7,175 shares of the company’s stock worth $747,000 after buying an additional 37 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its position in Illinois Tool Works by 2.9% in the second quarter. Commonwealth Bank of Australia now owns 37,621 shares of the company’s stock worth $3,920,000 after buying an additional 1,076 shares in the last quarter. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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