$3.48 Billion in Sales Expected for Illinois Tool Works Inc. (NYSE:ITW) This Quarter

Equities research analysts predict that Illinois Tool Works Inc. (NYSE:ITW) will announce $3.48 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Illinois Tool Works’ earnings, with the lowest sales estimate coming in at $3.46 billion and the highest estimate coming in at $3.51 billion. Illinois Tool Works posted sales of $3.55 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The firm is expected to issue its next earnings results on Thursday, April 23rd.

According to Zacks, analysts expect that Illinois Tool Works will report full year sales of $14.04 billion for the current financial year, with estimates ranging from $13.86 billion to $14.32 billion. For the next year, analysts anticipate that the firm will post sales of $14.39 billion, with estimates ranging from $14.25 billion to $14.67 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Illinois Tool Works.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Illinois Tool Works had a net margin of 17.87% and a return on equity of 81.83%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.

A number of brokerages recently weighed in on ITW. Deutsche Bank lifted their price objective on shares of Illinois Tool Works from $142.00 to $164.00 and gave the company a “sell” rating in a report on Wednesday, December 4th. Argus set a $180.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a report on Friday, October 25th. BMO Capital Markets restated a “market perform” rating and issued a $165.00 price objective on shares of Illinois Tool Works in a report on Tuesday, February 4th. Seaport Global Securities restated a “neutral” rating on shares of Illinois Tool Works in a report on Monday, October 28th. Finally, Morgan Stanley lifted their price objective on shares of Illinois Tool Works from $142.00 to $156.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $159.79.

Shares of ITW opened at $187.86 on Friday. The company has a debt-to-equity ratio of 2.56, a current ratio of 2.90 and a quick ratio of 2.36. The stock has a market cap of $60.77 billion, a PE ratio of 24.46, a P/E/G ratio of 2.99 and a beta of 1.23. The firm has a 50-day simple moving average of $179.87 and a two-hundred day simple moving average of $166.31. Illinois Tool Works has a 1-year low of $136.92 and a 1-year high of $190.05.

Institutional investors have recently modified their holdings of the stock. Greenleaf Trust lifted its position in shares of Illinois Tool Works by 1.1% during the 4th quarter. Greenleaf Trust now owns 4,916 shares of the industrial products company’s stock worth $883,000 after buying an additional 54 shares during the last quarter. Fiera Capital Corp lifted its position in shares of Illinois Tool Works by 4.6% during the 4th quarter. Fiera Capital Corp now owns 1,342 shares of the industrial products company’s stock worth $241,000 after buying an additional 59 shares during the last quarter. Delta Asset Management LLC TN lifted its position in shares of Illinois Tool Works by 8.0% during the 3rd quarter. Delta Asset Management LLC TN now owns 809 shares of the industrial products company’s stock worth $127,000 after buying an additional 60 shares during the last quarter. Blue Chip Partners Inc. lifted its position in shares of Illinois Tool Works by 1.6% during the 3rd quarter. Blue Chip Partners Inc. now owns 3,812 shares of the industrial products company’s stock worth $597,000 after buying an additional 61 shares during the last quarter. Finally, Gables Capital Management Inc. lifted its position in shares of Illinois Tool Works by 3.4% during the 3rd quarter. Gables Capital Management Inc. now owns 1,858 shares of the industrial products company’s stock worth $290,000 after buying an additional 61 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.

About Illinois Tool Works

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 Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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