Illinois Tool Works Inc. (ITW) Expected to Announce Earnings of $1.83 Per Share
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.
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.
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