Analysts Offer Predictions for Illinois Tool Works Inc.’s Q1 2024 Earnings (NYSE:ITW)

Illinois Tool Works Inc. (NYSE:ITWFree Report) – Investment analysts at Seaport Res Ptn reduced their Q1 2024 earnings per share (EPS) estimates for shares of Illinois Tool Works in a report released on Tuesday, February 6th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $2.35 per share for the quarter, down from their previous forecast of $2.43. The consensus estimate for Illinois Tool Works’ current full-year earnings is $10.12 per share. Seaport Res Ptn also issued estimates for Illinois Tool Works’ Q3 2024 earnings at $2.72 EPS, Q4 2024 earnings at $2.64 EPS, FY2024 earnings at $10.21 EPS, Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.92 EPS, Q4 2025 earnings at $2.84 EPS and FY2025 earnings at $10.90 EPS.

Several other equities analysts have also recently issued reports on ITW. JPMorgan Chase & Co. dropped their target price on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Wells Fargo & Company cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $277.00 to $240.00 in a research report on Tuesday. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Stifel Nicolaus boosted their target price on Illinois Tool Works from $238.00 to $239.00 and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Finally, Citigroup boosted their target price on Illinois Tool Works from $244.00 to $256.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $239.90.

View Our Latest Analysis on Illinois Tool Works

Illinois Tool Works Stock Up 0.2 %

ITW opened at $254.51 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.33 and a debt-to-equity ratio of 2.10. The business has a 50 day moving average price of $256.48 and a two-hundred day moving average price of $244.28. Illinois Tool Works has a 52 week low of $217.06 and a 52 week high of $267.12. The company has a market cap of $76.58 billion, a PE ratio of 26.13, a P/E/G ratio of 4.39 and a beta of 1.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 EPS.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,321,252.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock worth $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Northern Trust Corp raised its position in shares of Illinois Tool Works by 1.9% in the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock worth $2,954,691,000 after buying an additional 244,145 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Illinois Tool Works by 106,553.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock worth $1,582,902,000 after buying an additional 7,178,474 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Illinois Tool Works by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock worth $1,578,299,000 after buying an additional 97,568 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Illinois Tool Works by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,780,294 shares of the industrial products company’s stock worth $1,443,003,000 after buying an additional 168,563 shares during the period. Hedge funds and other institutional investors own 79.56% of the company’s stock.

About Illinois Tool Works

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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.

See Also

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

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