Illinois Tool Works (NYSE:ITW – Get Free Report) released its earnings results on Wednesday. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12, Briefing.com reports. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 earnings per share. Illinois Tool Works updated its FY 2024 guidance to 11.630-11.730 EPS.
Illinois Tool Works Stock Down 1.2 %
Shares of Illinois Tool Works stock traded down $3.20 during trading on Thursday, hitting $261.13. 1,262,297 shares of the stock traded hands, compared to its average volume of 1,065,863. The company has a fifty day moving average price of $254.96 and a two-hundred day moving average price of $247.27. Illinois Tool Works has a twelve month low of $221.82 and a twelve month high of $271.15. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The stock has a market cap of $77.53 billion, a P/E ratio of 25.90, a PEG ratio of 4.10 and a beta of 1.10.
Illinois Tool Works Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.30%. Illinois Tool Works’s dividend payout ratio is 58.82%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on ITW
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.
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