Illinois Tool Works (ITW) Set to Announce Quarterly Earnings on Wednesday

Illinois Tool Works (NYSE:ITW) will be posting its quarterly earnings results before the market opens on Wednesday, October 30th. Analysts expect Illinois Tool Works to post earnings of $2.54 per share for the quarter. Illinois Tool Works has set its FY24 guidance at $10.30-10.40 EPS and its FY 2024 guidance at 10.300-10.400 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the business earned $2.41 EPS. Illinois Tool Works’s revenue was down 1.2% compared to the same quarter last year. 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 Down 0.5 %

NYSE ITW opened at $257.08 on Wednesday. The stock has a market cap of $76.71 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The stock has a 50 day simple moving average of $253.18 and a two-hundred day simple moving average of $247.27. Illinois Tool Works has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.

Illinois Tool Works Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, September 30th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 59.17%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITW. Jefferies Financial Group cut their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Truist Financial increased their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $255.44.

Illinois Tool Works Company Profile

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.