Zacks: Analysts Expect Illinois Tool Works Inc. (ITW) Will Post Quarterly Sales of $3.68 Billion

Wall Street brokerages expect Illinois Tool Works Inc. (NYSE:ITW) to post $3.68 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Illinois Tool Works’ earnings. The highest sales estimate is $3.76 billion and the lowest is $3.60 billion. Illinois Tool Works posted sales of $3.47 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next quarterly earnings report 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 business will report sales of $15.63 billion per share, with estimates ranging from $15.37 billion to $15.90 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.62 by $0.08. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a return on equity of 48.59% and a net margin of 16.04%. Illinois Tool Works’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share.

Several analysts recently commented on ITW shares. Jefferies Group reaffirmed a “buy” rating and set a $190.00 target price on shares of Illinois Tool Works in a report on Wednesday, November 29th. Wells Fargo & Co set a $190.00 target price on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, December 4th. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Illinois Tool Works from $160.00 to $168.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $177.18.

Shares of Illinois Tool Works (NYSE ITW) opened at $161.26 on Thursday. The company has a market capitalization of $55,080.00, a PE ratio of 23.78, a P/E/G ratio of 2.09 and a beta of 1.18. Illinois Tool Works has a 1-year low of $129.17 and a 1-year high of $179.07. The company has a current ratio of 2.38, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63.

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 given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a yield of 1.93%. Illinois Tool Works’s dividend payout ratio is currently 46.02%.

In other Illinois Tool Works news, insider Roland M. Martel sold 64,818 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the transaction, the insider now owns 26,222 shares in the company, valued at $4,389,825.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the transaction, the insider now owns 42,497 shares in the company, valued at approximately $7,564,466. The disclosure for this sale can be found here. Insiders have sold 113,468 shares of company stock worth $19,163,781 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $112,000. Legacy Advisors LLC lifted its position in shares of Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 623 shares in the last quarter. WFG Advisors LP lifted its position in shares of Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares in the last quarter. Santori & Peters Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at approximately $121,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 74.41% 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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