Fortive (FTV) Set to Announce Quarterly Earnings on Wednesday

Fortive (NYSE:FTV) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.80 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. On average, analysts expect Fortive to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Fortive Stock Performance

Shares of FTV opened at $79.49 on Monday. The stock has a 50-day moving average price of $84.41 and a 200-day moving average price of $76.05. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The company has a market cap of $27.93 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. Fortive has a 12-month low of $62.70 and a 12-month high of $87.10.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is currently 13.11%.

Analysts Set New Price Targets

FTV has been the subject of several recent research reports. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Royal Bank of Canada upped their target price on Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 1st. Vertical Research cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.54.

Insiders Place Their Bets

In other news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Public Employees Retirement System of Ohio raised its position in Fortive by 2.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 150,491 shares of the technology company’s stock worth $11,081,000 after buying an additional 3,702 shares during the last quarter. GTS Securities LLC increased its position in Fortive by 51.6% in the fourth quarter. GTS Securities LLC now owns 6,376 shares of the technology company’s stock worth $469,000 after buying an additional 2,170 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Fortive by 6.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,424 shares of the technology company’s stock worth $1,062,000 after buying an additional 893 shares during the period. Chartwell Investment Partners LLC lifted its position in shares of Fortive by 3.2% during the 4th quarter. Chartwell Investment Partners LLC now owns 58,833 shares of the technology company’s stock valued at $4,332,000 after buying an additional 1,801 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Fortive by 24.0% in the 4th quarter. Legal & General Group Plc now owns 2,933,143 shares of the technology company’s stock worth $215,968,000 after acquiring an additional 567,745 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.