Latest Stocks: Brokerages Expect Illinois Tool Works Inc. (ITW) Will Announce Earnings of $1.63 Per Share

Latest Stocks: Brokerages Expect Illinois Tool Works Inc. (ITW) Will Announce Earnings of $1.63 Per Share

Brokerages predict that Illinois Tool Works Inc. (NYSE:ITW) will post earnings per share (EPS) of $1.63 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Illinois Tool Works’ earnings. The lowest EPS estimate is $1.60 and the highest is $1.64. Illinois Tool Works reported earnings per share of $1.46 during the same quarter last year, which would suggest a positive year over year growth rate of 11.6%. The company is expected to report its next quarterly earnings report on Wednesday, July 19th.

According to Zacks, analysts expect that Illinois Tool Works will report full-year earnings of $6.34 per share for the current financial year, with EPS estimates ranging from $6.30 to $6.39. For the next year, analysts anticipate that the firm will report earnings of $6.98 per share, with EPS estimates ranging from $6.80 to $7.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.09. Illinois Tool Works had a return on equity of 41.90% and a net margin of 14.96%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.29 EPS. Illinois Tool Works’s revenue was up 6.0% compared to the same quarter last year. ITW has been the topic of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $155.00 target price (up from $145.00) on shares of Illinois Tool Works in a research report on Tuesday, April 11th. Argus upped their target price on shares of Illinois Tool Works from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Wednesday, March 29th. Stifel Nicolaus restated a “hold” rating and set a $144.00 target price (up from $140.00) on shares of Illinois Tool Works in a research report on Tuesday, April 25th. Finally, Goldman Sachs Group Inc lowered shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $123.00 to $121.00 in a research report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Illinois Tool Works currently has an average rating of “Hold” and an average target price of $144.50.

Illinois Tool Works (NYSE:ITW) traded up 0.96% during midday trading on Tuesday, reaching $139.60. The company had a trading volume of 924,648 shares. Illinois Tool Works has a 1-year low of $98.32 and a 1-year high of $142.82. The firm’s 50 day moving average is $134.32 and its 200 day moving average is $127.26. The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.86%. Illinois Tool Works’s dividend payout ratio is presently 45.61%.

In related news, insider Lei Zhang Schlitz sold 33,629 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $129.49, for a total transaction of $4,354,619.21. Following the sale, the insider now owns 16,299 shares in the company, valued at $2,110,557.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sundaram Nagarajan sold 4,554 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $133.28, for a total transaction of $606,957.12. Following the sale, the insider now owns 28,401 shares in the company, valued at approximately $3,785,285.28. The disclosure for this sale can be found here. Insiders sold 57,072 shares of company stock worth $7,595,897 over the last quarter. Company insiders own 0.80% of the company’s stock. A number of hedge funds have recently made changes to their positions in ITW. Toronto Dominion Bank raised its stake in shares of Illinois Tool Works by 43.5% in the first quarter. Toronto Dominion Bank now owns 94,131 shares of the industrial products company’s stock worth $12,472,000 after buying an additional 28,513 shares during the period. Caldwell & Orkin Inc. raised its stake in shares of Illinois Tool Works by 3.5% in the first quarter. Caldwell & Orkin Inc. now owns 14,900 shares of the industrial products company’s stock worth $1,974,000 after buying an additional 500 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Illinois Tool Works by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,136 shares of the industrial products company’s stock worth $3,065,000 after buying an additional 5,027 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of Illinois Tool Works by 2.4% in the first quarter. Mosaic Family Wealth LLC now owns 1,390 shares of the industrial products company’s stock worth $184,000 after buying an additional 32 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Illinois Tool Works by 1.0% in the first quarter. TD Asset Management Inc. now owns 261,228 shares of the industrial products company’s stock worth $34,605,000 after buying an additional 2,497 shares during the period. Hedge funds and other institutional investors own 74.80% of the company’s stock.

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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