Brokerages forecast that Illinois Tool Works Inc. (NYSE:ITW) will post sales of $3.68 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with the lowest sales estimate coming in at $3.60 billion and the highest estimate coming in at $3.76 billion. Illinois Tool Works reported sales of $3.47 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The firm is scheduled to report its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Illinois Tool Works will report full year sales of $3.68 billion for the current financial year, with estimates ranging from $14.82 billion to $15.32 billion. For the next fiscal year, analysts forecast that the company will report sales of $15.63 billion per share, with estimates ranging from $15.37 billion to $15.90 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year.
Illinois Tool Works (NYSE:ITW) opened at $170.38 on Monday. Illinois Tool Works has a 12 month low of $126.47 and a 12 month high of $179.07. The firm has a market cap of $58,370.00, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63.
In related news, insider Roland M. Martel sold 64,818 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the completion of the sale, the insider now owns 26,222 shares in the company, valued at $4,389,825.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The disclosure for this sale can be found here. Insiders have sold 113,468 shares of company stock valued at $19,163,781 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank increased its holdings in Illinois Tool Works by 3.1% during the fourth quarter. Huntington National Bank now owns 326,949 shares of the industrial products company’s stock worth $54,552,000 after buying an additional 9,818 shares during the last quarter. Somerville Kurt F purchased a new stake in Illinois Tool Works during the fourth quarter worth about $744,000. Meeder Asset Management Inc. increased its stake in shares of Illinois Tool Works by 200.4% in the fourth quarter. Meeder Asset Management Inc. now owns 14,202 shares of the industrial products company’s stock worth $2,368,000 after purchasing an additional 9,474 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Illinois Tool Works by 5.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 541,799 shares of the industrial products company’s stock worth $90,399,000 after purchasing an additional 28,862 shares in the last quarter. Finally, Dempze Nancy E increased its stake in shares of Illinois Tool Works by 47.3% in the fourth quarter. Dempze Nancy E now owns 3,815 shares of the industrial products company’s stock worth $636,000 after purchasing an additional 1,225 shares in the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Illinois Tool Works Inc. (ITW) Expected to Post Quarterly Sales of $3.68 Billion” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2018/02/05/illinois-tool-works-inc-itw-expected-to-post-quarterly-sales-of-3-68-billion.html.
About Illinois Tool Works
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.