Brokerages expect that Illinois Tool Works Inc. (NYSE:ITW) will report sales of $3.55 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Illinois Tool Works’ earnings, with the highest sales estimate coming in at $3.60 billion and the lowest estimate coming in at $3.50 billion. Illinois Tool Works reported sales of $3.40 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, January 24th.

On average, analysts expect that Illinois Tool Works will report full year sales of $3.55 billion for the current fiscal year, with estimates ranging from $14.19 billion to $14.28 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $14.85 billion per share, with estimates ranging from $14.67 billion to $15.01 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 earnings per share.

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company set a $190.00 price target on shares of Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. BMO Capital Markets lifted their price target on shares of Illinois Tool Works from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, October 24th. Bank of America assumed coverage on shares of Illinois Tool Works in a report on Monday, December 11th. They set a “buy” rating and a $190.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and set a $147.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $164.38.

Shares of Illinois Tool Works (ITW) traded up $2.52 during midday trading on Friday, hitting $165.17. 1,961,882 shares of the stock were exchanged, compared to its average volume of 1,204,859. The stock has a market capitalization of $56,587.07, a P/E ratio of 26.22, a PEG ratio of 2.45 and a beta of 1.18. Illinois Tool Works has a 1-year low of $120.06 and a 1-year high of $169.69. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.89%. Illinois Tool Works’s payout ratio is 47.78%.

In related news, insider Roland M. Martel sold 64,818 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $167.41, for a total value of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares in the company, valued at $4,389,825.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,324 shares of company stock valued at $35,645,914. 0.90% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Illinois Tool Works by 1,661.3% during the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after buying an additional 18,221,359 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Illinois Tool Works during the first quarter valued at approximately $6,838,000. Investment Centers of America Inc. lifted its position in Illinois Tool Works by 25.0% during the first quarter. Investment Centers of America Inc. now owns 4,689 shares of the industrial products company’s stock valued at $623,000 after buying an additional 937 shares in the last quarter. Paloma Partners Management Co lifted its position in Illinois Tool Works by 113.6% during the first quarter. Paloma Partners Management Co now owns 16,236 shares of the industrial products company’s stock valued at $2,151,000 after buying an additional 8,635 shares in the last quarter. Finally, Fiduciary Trust Co. lifted its position in Illinois Tool Works by 5.7% during the first quarter. Fiduciary Trust Co. now owns 130,298 shares of the industrial products company’s stock valued at $17,261,000 after buying an additional 7,081 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

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Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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Earnings History and Estimates for Illinois Tool Works (NYSE:ITW)

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