Illinois Tool Works Inc. (ITW) Expected to Post Quarterly Sales of $3.68 Billion

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.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Illinois Tool Works from $160.00 to $168.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Credit Suisse Group raised their price target on shares of Illinois Tool Works from $163.00 to $166.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Wells Fargo & Co raised their price target on shares of Illinois Tool Works from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. BMO Capital Markets raised their price target on shares of Illinois Tool Works from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. Finally, Jefferies Group reissued a “buy” rating on shares of Illinois Tool Works in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $177.18.

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.

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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.

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

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