What is Zacks Research’s Forecast for ITW FY2024 Earnings?

Illinois Tool Works Inc. (NYSE:ITW) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for Illinois Tool Works in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst A. Bhattacharjee now forecasts that the industrial products company will post earnings of $10.11 per share for the year, up from their previous forecast of $10.06. The consensus estimate for Illinois Tool Works’ current full-year earnings is $10.12 per share. Zacks Research also issued estimates for Illinois Tool Works’ Q4 2024 earnings at $2.48 EPS, Q1 2025 earnings at $2.47 EPS, Q2 2025 earnings at $2.67 EPS, Q3 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.64 EPS, FY2025 earnings at $10.49 EPS, Q2 2026 earnings at $2.85 EPS, Q3 2026 earnings at $2.86 EPS and FY2026 earnings at $11.22 EPS.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Barclays upped their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $257.30.

Illinois Tool Works Trading Up 0.3 %

Shares of ITW opened at $270.62 on Friday. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $277.58. The firm has a market capitalization of $79.91 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 4.23 and a beta of 1.10. The company has a 50-day moving average of $259.56 and a 200 day moving average of $248.75. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 EPS.

Institutional Investors Weigh In On Illinois Tool Works

A number of institutional investors and hedge funds have recently modified their holdings of ITW. International Assets Investment Management LLC grew its holdings in Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after acquiring an additional 322,192 shares during the period. National Bank of Canada FI increased its holdings in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares in the last quarter. AXA S.A. lifted its stake in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after purchasing an additional 241,618 shares during the period. Guinness Asset Management LTD boosted its holdings in Illinois Tool Works by 30.7% during the second quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after buying an additional 180,458 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Illinois Tool Works by 787.3% during the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock valued at $48,945,000 after buying an additional 165,607 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

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.