Equities analysts expect Illinois Tool Works Inc. (NYSE:ITW) to report sales of $3.68 billion for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Illinois Tool Works’ earnings, with estimates ranging from $3.60 billion to $3.76 billion. Illinois Tool Works posted sales of $3.47 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The business is scheduled to report its next quarterly earnings results on Monday, April 23rd.
On average, analysts expect that Illinois Tool Works will report full year sales of $3.68 billion for the current year, with estimates ranging from $14.82 billion to $15.32 billion. For the next year, analysts expect that the company will post sales of $15.63 billion per share, with estimates ranging from $15.37 billion to $15.90 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Illinois Tool Works.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. Illinois Tool Works’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share.
In other Illinois Tool Works news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the sale, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,468 shares of company stock worth $19,163,781. 0.90% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the business. Veritable L.P. grew its stake in Illinois Tool Works by 20.0% in the 2nd quarter. Veritable L.P. now owns 29,896 shares of the industrial products company’s stock valued at $4,283,000 after buying an additional 4,982 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in Illinois Tool Works by 15.9% in the second quarter. Ontario Teachers Pension Plan Board now owns 74,212 shares of the industrial products company’s stock valued at $10,631,000 after acquiring an additional 10,202 shares during the period. Voya Investment Management LLC lifted its holdings in Illinois Tool Works by 3.3% in the second quarter. Voya Investment Management LLC now owns 121,437 shares of the industrial products company’s stock valued at $17,396,000 after acquiring an additional 3,880 shares during the period. Bayesian Capital Management LP bought a new position in Illinois Tool Works in the second quarter valued at about $1,390,000. Finally, Stifel Financial Corp lifted its holdings in Illinois Tool Works by 5.4% in the second quarter. Stifel Financial Corp now owns 381,094 shares of the industrial products company’s stock valued at $54,596,000 after acquiring an additional 19,635 shares during the period. 74.41% of the stock is currently owned by institutional investors.
Illinois Tool Works (NYSE ITW) traded up $0.57 during midday trading on Thursday, reaching $163.96. The company had a trading volume of 773,606 shares, compared to its average volume of 1,480,000. The stock has a market capitalization of $56,000.00, a P/E ratio of 24.18, a PEG ratio of 2.11 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. Illinois Tool Works has a 12 month low of $129.17 and a 12 month high of $179.07.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is presently 46.02%.
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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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