What is Zacks Research's Estimate for ITW FY2024 Earnings?

Illinois Tool Works Inc. (NYSE:ITW - Free Report) - Analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Illinois Tool Works in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst A. Bhattacharjee now expects that the industrial products company will post earnings per share of $10.11 for the year, up from their previous forecast 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $2.55 EPS. Illinois Tool Works's revenue for the quarter was down 1.6% on a year-over-year basis.

Other research analysts also recently issued reports about the company. Barclays lifted their target price on Illinois Tool Works from $215.00 to $230.00 and gave the stock an "underweight" rating in a report on Friday, November 1st. Argus raised Illinois Tool Works to a "strong-buy" rating in a report on Wednesday, July 31st. Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Evercore ISI downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the stock from $246.00 to $255.00 in a report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $257.30.

Illinois Tool Works Trading Up 0.3 %

ITW traded up $0.75 during midday trading on Friday, hitting $270.62. 910,393 shares of the company were exchanged, compared to its average volume of 1,057,239. The firm has a market capitalization of $79.91 billion, a P/E ratio of 23.39, a P/E/G ratio of 4.23 and a beta of 1.10. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $277.58. The firm's 50 day moving average price is $259.56 and its 200-day moving average price is $248.75. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works's payout ratio is 51.90%.

Institutional Trading of Illinois Tool Works

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Illinois Tool Works by 1.2% during the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company's stock worth $3,277,127,000 after purchasing an additional 149,272 shares in the last quarter. Capital Research Global Investors increased its holdings in Illinois Tool Works by 1.2% during the 1st quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company's stock worth $1,171,006,000 after purchasing an additional 51,654 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Illinois Tool Works by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company's stock worth $877,234,000 after purchasing an additional 135,023 shares in the last quarter. Legal & General Group Plc increased its holdings in Illinois Tool Works by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company's stock worth $640,425,000 after purchasing an additional 62,645 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Illinois Tool Works by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company's stock worth $484,685,000 after purchasing an additional 32,656 shares in the last quarter. 79.77% of the stock is owned by institutional investors.

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.