Illinois Tool Works Inc. (NYSE: ITW) has reported earnings for its first fiscal quarter (ending March 31) of $2.74 versus $2.34 for the same period a year ago — an increase of 17%. This result exceeded the consensus estimate of $2.55 by $0.19. For the latest four quarters through March 31, E.P.S. were $10.17 versus $10.03 for the same period a year ago — an increase of 1%.
Recent Price Action
Illinois Tool Works Inc. (NYSE: ITW) stock declined by -2.1% on 4/30/24. The shares closed at $244.11. Moreover, trading volume in this decline was unusually high at 177% of normal. The stock has been strong relative to the market over the last nine months but has declined -2.3% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ITW is expected to continue to be a major Value Builder.
Illinois Tool Works has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Illinois Tool Works has a poor Appreciation Score of 16 but a good Power Rating of 72, producing the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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