Illinois Tool Works Inc. (ITW) Expected to Announce Quarterly Sales of $3.65 Billion

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Analysts expect that Illinois Tool Works Inc. (NYSE:ITW) will report $3.65 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with the highest sales estimate coming in at $3.69 billion and the lowest estimate coming in at $3.60 billion. Illinois Tool Works posted sales of $3.74 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The firm is expected to announce its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that Illinois Tool Works will report full year sales of $14.81 billion for the current fiscal year, with estimates ranging from $14.72 billion to $14.91 billion. For the next fiscal year, analysts expect that the business will post sales of $15.12 billion, with estimates ranging from $14.89 billion to $15.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.01. Illinois Tool Works had a net margin of 17.35% and a return on equity of 69.48%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company earned $1.70 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.4% on a year-over-year basis.

A number of research firms have recently weighed in on ITW. Credit Suisse Group reissued a “hold” rating on shares of Illinois Tool Works in a research report on Friday, February 1st. JPMorgan Chase & Co. downgraded shares of Illinois Tool Works from a “neutral” rating to an “underweight” rating and set a $120.00 price target for the company. in a research report on Thursday, January 10th. Deutsche Bank reissued a “hold” rating on shares of Illinois Tool Works in a research report on Monday, December 3rd. Bank of America downgraded shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $128.00 to $124.00 in a research report on Tuesday, February 5th. Finally, Citigroup downgraded shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $144.00 price target for the company. in a research report on Monday, January 14th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the company. Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $136.60.

NYSE:ITW traded down $1.72 during trading hours on Friday, hitting $143.18. The stock had a trading volume of 4,524,433 shares, compared to its average volume of 1,536,657. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 1.85. Illinois Tool Works has a 1-year low of $117.75 and a 1-year high of $171.83. The company has a market capitalization of $46.98 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.35 and a beta of 1.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Friday, March 29th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, March 28th. Illinois Tool Works’s dividend payout ratio is presently 52.63%.

In other Illinois Tool Works news, EVP Juan Valls sold 52,265 shares of Illinois Tool Works stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $142.41, for a total value of $7,443,058.65. Following the completion of the transaction, the executive vice president now owns 78,620 shares of the company’s stock, valued at $11,196,274.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of Illinois Tool Works stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.79, for a total transaction of $6,349,737.66. Following the completion of the transaction, the insider now directly owns 71,927 shares of the company’s stock, valued at approximately $10,486,237.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,970 shares of company stock valued at $18,348,472. 0.82% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ITW. Arbor Wealth Management LLC bought a new stake in Illinois Tool Works in the fourth quarter valued at $51,000. Sowell Financial Services LLC lifted its stake in Illinois Tool Works by 7.1% in the fourth quarter. Sowell Financial Services LLC now owns 3,240 shares of the industrial products company’s stock valued at $411,000 after buying an additional 215 shares during the last quarter. Norges Bank bought a new stake in Illinois Tool Works in the fourth quarter valued at $402,071,000. Actinver Wealth Management Inc. bought a new stake in Illinois Tool Works in the fourth quarter valued at $317,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Illinois Tool Works by 35.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,845 shares of the industrial products company’s stock valued at $234,000 after buying an additional 485 shares during the last quarter. 77.50% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile

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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