Illinois Tool Works (ITW) Scheduled to Post Quarterly Earnings on Tuesday

Illinois Tool Works (NYSE:ITW) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, July 30th. Analysts expect the company to announce earnings of $2.47 per share for the quarter. Illinois Tool Works has set its FY24 guidance at $10.30-10.70 EPS and its FY 2024 guidance at 10.300-10.700 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a net margin of 19.07% and a return on equity of 97.82%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $2.33 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 Stock Performance

ITW stock opened at $247.49 on Monday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market cap of $73.85 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.76 and a beta of 1.10. The firm has a 50 day simple moving average of $240.92 and a 200 day simple moving average of $251.29. Illinois Tool Works has a 52 week low of $217.50 and a 52 week high of $271.15.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Friday, June 28th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, June 28th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.

Insider Transactions at Illinois Tool Works

In related news, Director David Byron Smith, Jr. bought 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $275.00 to $267.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays reduced their target price on shares of Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Jefferies Financial Group reduced their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Finally, Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $253.30.

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.