Fortive (FTV) Set to Announce Quarterly Earnings on Wednesday

Fortive (NYSE:FTVGet Rating) will be releasing its earnings data before the market opens on Wednesday, February 1st. Analysts expect Fortive to post earnings of $0.84 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.03. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.44 billion. Fortive had a return on equity of 11.69% and a net margin of 12.22%. On average, analysts expect Fortive to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Fortive Trading Up 0.6 %

NYSE FTV opened at $67.24 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Fortive has a 52 week low of $52.47 and a 52 week high of $71.78. The business has a 50 day moving average price of $66.00 and a 200-day moving average price of $63.80. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 35.20, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, February 24th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 14.66%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho raised their price objective on shares of Fortive from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 13th. Morgan Stanley raised their target price on Fortive from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. Citigroup lifted their target price on Fortive from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, December 9th. Wells Fargo & Company increased their price target on Fortive from $67.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, January 19th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $73.85.

Insider Buying and Selling

In related news, CEO Patrick K. Murphy sold 32,788 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the sale, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Patrick K. Murphy sold 32,788 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $68.56, for a total value of $2,247,945.28. Following the transaction, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 13,156 shares of the firm’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.44, for a total value of $900,396.64. Following the completion of the sale, the chief financial officer now directly owns 88,818 shares of the company’s stock, valued at $6,078,703.92. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Fortive

Several large investors have recently modified their holdings of FTV. Vanguard Group Inc. boosted its holdings in Fortive by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after buying an additional 989,883 shares during the period. Invesco Ltd. boosted its holdings in shares of Fortive by 30.4% in the first quarter. Invesco Ltd. now owns 2,178,609 shares of the technology company’s stock worth $132,743,000 after acquiring an additional 507,582 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fortive by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,124,090 shares of the technology company’s stock valued at $129,421,000 after purchasing an additional 127,093 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Fortive by 5.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,805,360 shares of the technology company’s stock worth $98,176,000 after purchasing an additional 99,169 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Fortive by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,707,923 shares of the technology company’s stock valued at $104,065,000 after buying an additional 48,687 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Fortive Company Profile

(Get Rating)

Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

Further Reading

Earnings History for Fortive (NYSE:FTV)

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