Seaport Res Ptn Has Pessimistic Outlook of ITW Q4 Earnings

Illinois Tool Works Inc. (NYSE:ITW - Free Report) - Seaport Res Ptn lowered their Q4 2024 earnings estimates for shares of Illinois Tool Works in a research note issued on Monday, November 4th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.53 per share for the quarter, down from their prior forecast of $2.65. The consensus estimate for Illinois Tool Works' current full-year earnings is $10.75 per share. Seaport Res Ptn also issued estimates for Illinois Tool Works' Q1 2025 earnings at $2.48 EPS, Q2 2025 earnings at $2.64 EPS, Q4 2025 earnings at $2.72 EPS and FY2025 earnings at $10.55 EPS.

ITW has been the subject of several other reports. Robert W. Baird increased 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 note on Thursday, October 31st. Stifel Nicolaus lifted their target price 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. Wells Fargo & Company upped their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Finally, Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $256.40.

Illinois Tool Works Trading Up 3.4 %

ITW traded up $9.04 during midday trading on Wednesday, reaching $275.47. 1,151,612 shares of the company's stock traded hands, compared to its average volume of 803,702. Illinois Tool Works has a 52 week low of $227.66 and a 52 week high of $277.58. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a fifty day moving average of $256.78 and a two-hundred day moving average of $247.80. The stock has a market capitalization of $81.35 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 3.85 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business posted $2.55 EPS. The business's quarterly revenue was down 1.6% on a year-over-year basis.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in Illinois Tool Works in the 2nd quarter worth $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter worth about $32,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC purchased a new position in Illinois Tool Works in the 3rd quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. boosted its stake in Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after purchasing an additional 115 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

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.