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Illinois Tool Works Inc - Stock Quote ITW

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Morningstar's Illinois Tool Works Inc Stock Analysis

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ITW's Strong First Quarter No Surprise; Maintaining Our Fair Value Estimate

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

Narrow-moat-rated ITW had a solid first quarter, but nothing in its latest results materially alters our long-term view. While management raised its top-line and EPS guidance, we were already modeling at the top end of ITW’s 2022 forecast. We made some modest adjustments, including raising our full-year organic revenue outlook by a percentage point to 10% and bringing down our full-year margin expectations by 40 basis points to 24.6%. One could argue that top-line guidance seems a bit conservative, but we remain within guidance, given the current economic uncertainty.

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Illinois Tool Works Inc's Company Profile

Business Description

Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 87 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle.

155 Harlem Avenue
Glenview, IL, 60025
T +1 847 724-7500
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 45,000

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