Brokerages expect Illinois Tool Works Inc. (NYSE:ITW) to report $3.55 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with estimates ranging from $3.50 billion to $3.60 billion. Illinois Tool Works posted sales of $3.40 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, January 24th.
According to Zacks, analysts expect that Illinois Tool Works will report full year sales of $3.55 billion for the current year, with estimates ranging from $14.19 billion to $14.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $14.87 billion per share, with estimates ranging from $14.67 billion to $15.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.65 by $0.20. The company 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 firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 earnings per share.
Shares of Illinois Tool Works (NYSE:ITW) opened at $170.32 on Friday. 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 company has a market cap of $58,591.28, a PE ratio of 26.08, a PEG ratio of 2.33 and a beta of 1.18. Illinois Tool Works has a 52-week low of $122.61 and a 52-week high of $172.21.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.
In other news, VP Norman D. Jr. Finch acquired 4,986 shares of Illinois Tool Works stock in a transaction on Wednesday, October 25th. The stock was acquired at an average cost of $156.34 per share, with a total value of $779,511.24. Following the transaction, the vice president now owns 4,371 shares of the company’s stock, valued at approximately $683,362.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was 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. Insiders sold a total of 208,258 shares of company stock valued at $33,653,349 over the last ninety days. 0.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers purchased a new position in Illinois Tool Works in the second quarter valued at about $601,000. Quantbot Technologies LP boosted its stake in Illinois Tool Works by 71.3% in the second quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after acquiring an additional 10,457 shares during the last quarter. Ffcm LLC boosted its stake in Illinois Tool Works by 6.4% in the second quarter. Ffcm LLC now owns 11,851 shares of the industrial products company’s stock valued at $1,698,000 after acquiring an additional 714 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Illinois Tool Works by 100.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after acquiring an additional 707,287 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Illinois Tool Works by 72.8% in the third quarter. First Trust Advisors LP now owns 357,404 shares of the industrial products company’s stock valued at $52,881,000 after acquiring an additional 150,570 shares during the last quarter. Hedge funds and other institutional investors own 74.73% 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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