Analysts expect Illinois Tool Works Inc. (NYSE:ITW) to report earnings of $1.83 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with estimates ranging from $1.79 to $1.87. Illinois Tool Works posted earnings per share of $1.70 in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The business is scheduled to issue its next earnings results on Wednesday, January 23rd.

According to Zacks, analysts expect that Illinois Tool Works will report full year earnings of $7.60 per share for the current year, with EPS estimates ranging from $7.56 to $7.64. For the next year, analysts expect that the business will post earnings of $8.10 per share, with EPS estimates ranging from $7.90 to $8.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. Illinois Tool Works’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 EPS.

A number of brokerages have issued reports on ITW. Robert W. Baird reduced their price target on shares of Illinois Tool Works from $155.00 to $141.00 and set a “hold” rating on the stock in a report on Tuesday, July 24th. Citigroup set a $166.00 price target on shares of Illinois Tool Works and gave the company a “buy” rating in a report on Tuesday, July 24th. ValuEngine upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Credit Suisse Group reduced their price target on shares of Illinois Tool Works from $166.00 to $146.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Finally, Goldman Sachs Group reiterated a “neutral” rating on shares of Illinois Tool Works in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $150.18.

NYSE ITW traded down $1.61 on Monday, reaching $133.99. The company had a trading volume of 1,333,875 shares, compared to its average volume of 1,625,004. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. The company has a market cap of $44.99 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.80 and a beta of 1.26. Illinois Tool Works has a 12 month low of $119.38 and a 12 month high of $179.07.

Illinois Tool Works announced that its board has authorized a share repurchase program on Friday, August 3rd that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Monday, December 31st will be issued a $1.00 dividend. The ex-dividend date is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 60.70%.

Several institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. grew its holdings in Illinois Tool Works by 6.3% during the 2nd quarter. North Star Investment Management Corp. now owns 6,085 shares of the industrial products company’s stock valued at $843,000 after purchasing an additional 362 shares during the last quarter. Signaturefd LLC grew its holdings in Illinois Tool Works by 17.0% during the 2nd quarter. Signaturefd LLC now owns 2,564 shares of the industrial products company’s stock valued at $355,000 after purchasing an additional 372 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. grew its holdings in Illinois Tool Works by 0.6% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 66,869 shares of the industrial products company’s stock valued at $9,437,000 after purchasing an additional 374 shares during the last quarter. Sky Investment Group LLC grew its holdings in Illinois Tool Works by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 45,259 shares of the industrial products company’s stock valued at $6,270,000 after purchasing an additional 385 shares during the last quarter. Finally, First National Bank of Omaha grew its holdings in Illinois Tool Works by 20.9% during the 3rd quarter. First National Bank of Omaha now owns 2,280 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

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.

See Also: How to Use a Moving Average for TradingĀ 

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.