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

Illinois Tool Works Inc. (NYSE:ITW) – Research analysts at Zacks Research boosted their FY2024 EPS estimates for Illinois Tool Works in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst A. Bhattacharjee now expects that the industrial products company will post earnings of $10.11 per share for the year, up from their prior estimate 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.

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

ITW has been the subject of a number of other reports. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial upped their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their target price on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $257.30.

Illinois Tool Works Price Performance

NYSE ITW opened at $270.62 on Friday. The stock has a market capitalization of $79.91 billion, a PE ratio of 23.41, a P/E/G ratio of 4.23 and a beta of 1.10. The stock has a 50-day simple moving average of $260.09 and a 200 day simple moving average of $248.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works has a twelve month low of $232.77 and a twelve month high of $277.58.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued 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 currently 51.90%.

Institutional Trading of Illinois Tool Works

Several large investors have recently made changes to their positions in ITW. Nikulski Financial Inc. lifted its position in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares in the last quarter. Steele Capital Management Inc. lifted its position in shares of Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 79.77% of the company’s stock.

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.