Illinois Tool Works Inc. (ITW) Expected to Announce Quarterly Sales of $3.67 Billion

Wall Street analysts expect Illinois Tool Works Inc. (NYSE:ITW) to announce sales of $3.67 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Illinois Tool Works’ earnings, with the lowest sales estimate coming in at $3.60 billion and the highest estimate coming in at $3.76 billion. Illinois Tool Works reported sales of $3.47 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that Illinois Tool Works will report full-year sales of $15.05 billion for the current financial year, with estimates ranging from $14.82 billion to $15.30 billion. For the next fiscal year, analysts anticipate that the company will report sales of $15.60 billion per share, with estimates ranging from $15.37 billion to $15.86 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Illinois Tool Works.

How to Become a New Pot Stock Millionaire

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS.

Several analysts have recently commented on the stock. Seaport Global Securities restated a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a research report on Thursday, January 25th. Stifel Nicolaus raised their price objective on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Argus raised their price objective on shares of Illinois Tool Works to $200.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, March 19th. Finally, BMO Capital Markets downgraded shares of Illinois Tool Works from an “outperform” rating to a “market perform” rating and set a $180.00 price target on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $176.29.

Shares of ITW stock traded up $1.43 on Friday, hitting $157.79. 380,874 shares of the stock traded hands, compared to its average volume of 1,465,287. The company has a market capitalization of $52,946.41, a price-to-earnings ratio of 23.89, a PEG ratio of 1.99 and a beta of 1.24. Illinois Tool Works has a 52 week low of $130.58 and a 52 week high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Friday, March 30th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.98%. Illinois Tool Works’s dividend payout ratio is presently 47.34%.

In related news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the completion of the transaction, the insider now directly owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.82% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Illinois Tool Works by 8.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 45,423 shares of the industrial products company’s stock valued at $7,579,000 after acquiring an additional 3,629 shares during the last quarter. DnB Asset Management AS boosted its holdings in shares of Illinois Tool Works by 21.3% in the 4th quarter. DnB Asset Management AS now owns 51,917 shares of the industrial products company’s stock valued at $8,662,000 after acquiring an additional 9,100 shares during the last quarter. Atlantic Trust Group LLC boosted its holdings in shares of Illinois Tool Works by 21.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock valued at $36,045,000 after acquiring an additional 43,356 shares during the last quarter. Aevitas Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $358,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $4,749,000. 77.64% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This story was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://sportsperspectives.com/2018/04/17/illinois-tool-works-inc-itw-expected-to-announce-quarterly-sales-of-3-67-billion.html.

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.

Get a free copy of the Zacks research report on Illinois Tool Works (ITW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply