Zacks Research, a leading equities research firm, has raised its Q3 2023 earnings per share (EPS) estimates for Illinois Tool Works (ITW:NYE) in a note issued to investors on April 14th. Analyst E. Haque anticipates that the industrial products company will earn $2.44 per share for the quarter, up from their previous estimate of $2.43. The consensus estimate for Illinois Tool Works’ current full-year earnings is $9.51 per ITW stock share.
Zacks Research also issued estimates for Illinois Tool Works’ Q4 2023 earnings at $2.42 EPS, Q3 2024 earnings at $2.47 EPS, FY2024 earnings at $9.60 EPS, Q1 2025 earnings at $2.54 EPS, and FY2025 earnings at $10.88 EPS.
Last Quarterly Earnings Review:
Illinois Tool Works last reported its quarterly earnings data on February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%.
The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the company posted $1.95 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year.
ITW Stock-Analyst Ratings:
Several equities analysts have recently commented on ITW. Citigroup increased their price objective on shares of Illinois Tool Works from $232.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd.
Morgan Stanley raised their target price on shares of Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a report on Tuesday, February 7th.
UBS Group lifted their price objective on shares of Illinois Tool Works from $213.00 to $245.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th.
Credit Suisse Group lifted their price objective on shares of Illinois Tool Works from $259.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd.
ITW Stock Price Analysis:
ITW stock opened at $231.32 on Monday, with a 50-day moving average price of $234.64 and a two-hundred-day moving average price of $223.33.
ITW stock has a market cap of $70.51 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 3.54, and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 0.95, and a debt-to-equity ratio of 2.00. Illinois Tool Works has a 1-year low of $173.52 and a 1-year high of $253.37.
Stock Target Advisor reports that ITW stock presently has a consensus rating of “Hold” and a consensus price target of $218.08.
ITW Stock Dividend:
Illinois Tool Works recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Friday, March 31st, were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Thursday, March 30th.
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 company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is based in Glenview, Illinois.
