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Illinois Tool Works Inc. (ITW), headquartered in Glenview, Illinois, is a leading manufacturer and seller of industrial products and equipment. Valued at $74.7 billion by market cap, the company provides industrial fluids and adhesives, tooling for specialty applications, welding products, and quality measurement equipment and systems. The global multi industry manufacturing leader is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Wednesday, Feb. 5.
Ahead of the event, analysts expect ITW to report a profit of $2.50 per share on a diluted basis, up 3.3% from $2.42 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect ITW to report EPS of $10.13, up 3.6% from $9.78 in fiscal 2023. Its EPS is expected to rise 4.9% year over year to $10.63 in fiscal 2025.
ITW stock has underperformed the S&P 500’s ($SPX) 24.4% gains over the past 52 weeks, with shares up marginally during this period. Similarly, it underperformed the Industrial Select Sector SPDR Fund’s (XLI) 20.7% gains over the same time frame.
On Oct. 30, ITW shares closed up more than 3% after reporting its Q3 results. Its revenue was $3.97 billion, fell short of Wall Street forecasts of $4.02 billion. The company’s adjusted EPS of $2.65, surpassed analyst estimates of $2.53. ITW expects full-year EPS to be between $11.63 and $11.73.
Analysts’ consensus opinion on ITW stock is cautious, with a “Hold” rating overall. Out of 17 analysts covering the stock, three advise a “Strong Buy” rating, 10 give a “Hold,” and four recommend a “Strong Sell.” ITW’s average analyst price target is $269.33, indicating a potential upside of 6.1% from the current levels.
