Illinois Tool Works showcases the advantages of the conglomerate business model. Management is executing despite a difficult operating environment.

In July, we (my wife and I) received a dividend income total of $2,836.82. 2023 was up 24%. 7 months down in 2024 and the S&P 500 is still up almost 13%, despite the recent sell-offs. We have a high likelihood of a rate cut in September, but too much speculation is happening beyond that date. Time is ticking on that FOMC meeting.

GLENVIEW, Ill., Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.10 per share – or $0.40 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.50 per share for the third quarter of 2024. The dividend equates to $6.00 per share on a full-year basis. The dividend will be paid on October 11, 2024 to shareholders of record as of September 30, 2024.

Illinois Tool's (ITW) second-quarter 2024 results benefit from revenue growth in the Food Equipment and Specialty Products segments.

Illinois Tool Works Inc. (NYSE:ITW ) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Erin Linnihan - VP, IR Christopher O'Herlihy - President and CEO Michael Larsen - SVP and CFO Conference Call Participants Andy Kaplowitz - Citigroup Scott Davis - Melius Research Tami Zakaria - JPMorgan Joe Ritchie - Goldman Sachs Julian Mitchell - Barclays Walt Liptak - Seaport Global Operator Good morning. My name is Audra, and I will be your conference operator today.

While the top- and bottom-line numbers for Illinois Tool Works (ITW) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Illinois Tool Works (ITW) came out with quarterly earnings of $2.54 per share, beating the Zacks Consensus Estimate of $2.45 per share. This compares to earnings of $2.41 per share a year ago.

GLENVIEW, Ill., July 30, 2024 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) today reported its second quarter 2024 results and updated guidance for full-year 2024.

6 Dividend Increases Expected In August 2024

Evaluate the expected performance of Illinois Tool Works (ITW) for the quarter ended June 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Illinois Tool's (ITW) second-quarter results are likely to gain from strength across Automotive OEM and Specialty Products units. Softness in the Food Equipment segment is expected to have weighed on results.

Illinois Tool Works will publish its Q2 results on July 30 before market hours. We touch upon the key themes that could dominate the earnings event. Despite the correction this year, the stock still looks expensive from a valuation perspective, and may not appeal to rotational specialists who focus on the dividend aristocrat universe.