$4.00 Billion in Sales Expected for Illinois Tool Works Inc. (NYSE:ITW) This Quarter

Analysts expect Illinois Tool Works Inc. (NYSE:ITWGet Rating) to post sales of $4.00 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Illinois Tool Works’ earnings, with estimates ranging from $3.94 billion to $4.03 billion. Illinois Tool Works reported sales of $3.68 billion in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Illinois Tool Works will report full-year sales of $15.97 billion for the current financial year, with estimates ranging from $15.90 billion to $16.01 billion. For the next financial year, analysts forecast that the firm will report sales of $16.71 billion, with estimates ranging from $16.48 billion to $16.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Illinois Tool Works.

Illinois Tool Works (NYSE:ITWGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.04. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.76 billion. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share.

Several analysts recently commented on ITW shares. StockNews.com started coverage on shares of Illinois Tool Works in a research report on Thursday, March 31st. They set a “hold” rating on the stock. UBS Group dropped their price target on shares of Illinois Tool Works to $243.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Barclays dropped their price target on shares of Illinois Tool Works from $192.00 to $180.00 and set an “underweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $262.00 to $255.00 in a research report on Monday, March 28th. Finally, Credit Suisse Group dropped their price target on shares of Illinois Tool Works from $267.00 to $261.00 in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $232.50.

ITW stock opened at $204.33 on Friday. The firm has a market cap of $63.64 billion, a PE ratio of 24.01, a P/E/G ratio of 2.42 and a beta of 1.07. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.24 and a current ratio of 1.73. The firm’s fifty day moving average is $205.61 and its 200 day moving average is $222.73. Illinois Tool Works has a one year low of $195.25 and a one year high of $249.81.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Wednesday, June 29th. Illinois Tool Works’s dividend payout ratio is currently 57.34%.

In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total value of $205,340.00. Following the transaction, the executive vice president now directly owns 7,803 shares of the company’s stock, valued at $1,602,268.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Stokes Family Office LLC increased its position in shares of Illinois Tool Works by 17.2% during the third quarter. Stokes Family Office LLC now owns 2,448 shares of the industrial products company’s stock valued at $506,000 after acquiring an additional 359 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Illinois Tool Works during the fourth quarter valued at about $5,647,000. Eaton Vance Management increased its position in shares of Illinois Tool Works by 25.6% during the third quarter. Eaton Vance Management now owns 1,526,443 shares of the industrial products company’s stock valued at $313,942,000 after acquiring an additional 311,548 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Illinois Tool Works by 6.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,791 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 103 shares in the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Illinois Tool Works by 7.1% in the fourth quarter. Savant Capital LLC now owns 7,020 shares of the industrial products company’s stock valued at $1,732,000 after purchasing an additional 465 shares in the last quarter. Institutional investors and hedge funds own 79.03% of the company’s stock.

About Illinois Tool Works (Get Rating)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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

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