Illinois Tool Works (NYSE:ITW) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Illinois Tool Works (NYSE:ITW) posted its quarterly earnings data on Wednesday. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12, Briefing.com reports. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm posted $2.55 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Illinois Tool Works updated its FY 2024 guidance to 11.630-11.730 EPS.

Illinois Tool Works Price Performance

ITW traded up $1.95 during midday trading on Friday, hitting $263.08. The stock had a trading volume of 882,591 shares, compared to its average volume of 1,065,022. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. Illinois Tool Works has a 1 year low of $225.88 and a 1 year high of $271.15. The business has a fifty day moving average of $255.59 and a 200 day moving average of $247.43. The company has a market cap of $78.11 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 4.21 and a beta of 1.10.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.28%. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ITW shares. Barclays increased their price objective on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $256.40.

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.