Research Analysts Issue Forecasts for Illinois Tool Works Inc.’s Q4 2024 Earnings (NYSE:ITW)

Illinois Tool Works Inc. (NYSE:ITW) – Zacks Research cut their Q4 2024 EPS estimates for Illinois Tool Works in a research note issued to investors on Tuesday, August 13th. Zacks Research analyst A. Bhattacharjee now expects that the industrial products company will post earnings of $2.54 per share for the quarter, down from their previous forecast of $2.59. The consensus estimate for Illinois Tool Works’ current full-year earnings is $10.25 per share. Zacks Research also issued estimates for Illinois Tool Works’ Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $2.69 EPS, FY2025 earnings at $10.57 EPS and FY2026 earnings at $11.49 EPS.

Several other research firms have also commented on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Truist Financial lowered their price target on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $250.75.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock traded up $1.76 during trading on Friday, hitting $242.02. 104,934 shares of the stock were exchanged, compared to its average volume of 1,151,386. The stock’s fifty day moving average is $240.77 and its 200 day moving average is $249.91. The stock has a market cap of $72.22 billion, a PE ratio of 23.69, a P/E/G ratio of 3.80 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. Illinois Tool Works has a 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 earnings per share.

Hedge Funds Weigh In On Illinois Tool Works

A number of large investors have recently made changes to their positions in the business. Capital Research Global Investors increased its holdings in Illinois Tool Works by 1.2% in the first quarter. Capital Research Global Investors now owns 4,364,053 shares of the industrial products company’s stock worth $1,171,006,000 after buying an additional 51,654 shares during the last quarter. Norges Bank bought a new stake in Illinois Tool Works during the fourth quarter worth approximately $818,408,000. Fisher Asset Management LLC boosted its position in Illinois Tool Works by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,951,948 shares of the industrial products company’s stock worth $773,234,000 after purchasing an additional 122,840 shares during the period. Legal & General Group Plc boosted its position in Illinois Tool Works by 2.4% during the second 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock worth $361,998,000 after purchasing an additional 133,853 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 775 shares of Illinois Tool Works stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, September 30th. Illinois Tool Works’s dividend payout ratio is presently 59.17%.

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.