Evercore ISI Group maintains Illinois Tool Works at Underperform, raises price target to $317 from $309

Illinois Tool Works (ITW) declared a $1.72 per share quarterly dividend, maintaining the previous rate. The forward yield is 2.45%. The dividend is payable on January 15 to shareholders of record on December 31. ITW also projected over 5% organic growth for Q4 and raised its FY2026 GAAP EPS midpoint to $11.50, following mixed Q3 results.

Illinois Tool Works (ITW) reported Q3 2026 EPS of $3.00, beating estimates, but revenue of $4.24B missed expectations. Operating profit hit a record, and guidance was raised. Shares initially fell 3% but closed down 0.10%. ITW's operating margin expanded to 27.8%, and it increased its dividend to $6.88 per share. Management cited innovation and operational improvements as key drivers.

Illinois Tool Works (ITW) reported Q3 2026 earnings with record operating income and raised guidance. Organic revenue declined in Automotive, Construction, and Specialty Products due to inflation and price-cost issues. Europe was flat, and China declined 2%. A tornado reduced revenues by $40M. CEO O'Herlihy highlighted sustainable growth in Electronics and CBI initiatives. CFO Larsen noted strong backlog in Welding and Test & Measurement.

Illinois Tool Works (ITW) reported Q3 organic revenue growth across most segments, with notable increases in Test & Measurement (16%), Welding (7-15% excluding tornado impact), and Polymers & Fluids (8%). The company raised its full-year revenue growth outlook to 4.5-5.5% and EPS guidance to $11.45-$11.55. ITW expects sequential revenue growth of 1-2% in Q4 despite fewer shipping days.

Illinois Tool Works Inc. reported Q3 2026 earnings, with organic growth driven by Customer Back Innovation (CBI) and operating margin expansion. The company raised full-year GAAP EPS guidance to $11.50, expecting sustained growth. A tornado event reduced revenues by $40 million, but was offset by insurance. Management expects CBI to continue driving growth and raised the dividend by 7%.

ITW reported Q3 2026 earnings with 4.4% revenue growth, driven by 3.8% organic growth. Key segments like Test and Measurement and Electronics grew 16%, while welding was impacted by a tornado event. The company raised its full-year GAAP EPS guidance to $11.50, reflecting 10% year-over-year growth. ITW also increased its dividend by 7% and returned $2.7 billion to shareholders through share repurchases and dividends.