Illinois Tool Works (ITW) to Release Quarterly Earnings on Tuesday

Illinois Tool Works (NYSE:ITW) is set to announce its earnings results before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $2.34 per share for the quarter. Illinois Tool Works has set its FY24 guidance at $10.00-10.40 EPS and its FY 2024 guidance at 10.000-10.400 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 earnings per share. On average, analysts expect Illinois Tool Works to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Illinois Tool Works Trading Up 0.0 %

NYSE ITW opened at $248.28 on Friday. The company has a fifty day simple moving average of $260.04 and a two-hundred day simple moving average of $251.49. The stock has a market cap of $74.17 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.65 and a beta of 1.13. Illinois Tool Works has a 12-month low of $217.06 and a 12-month high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ITW. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Truist Financial began coverage on shares of Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Wells Fargo & Company cut shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $277.00 to $240.00 in a research note on Tuesday, February 6th. Barclays upped their price objective on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $257.00.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $254.83, for a total transaction of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the transaction, the executive vice president now directly owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders sold 189,471 shares of company stock worth $48,712,316 over the last 90 days. Company insiders own 0.88% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.