Fortive Co. (NYSE:FTV) to Post Q3 2024 Earnings of $0.96 Per Share, Seaport Res Ptn Forecasts

Fortive Co. (NYSE:FTV) – Stock analysts at Seaport Res Ptn boosted their Q3 2024 EPS estimates for shares of Fortive in a report released on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will post earnings of $0.96 per share for the quarter, up from their previous estimate of $0.95. The consensus estimate for Fortive’s current full-year earnings is $3.80 per share. Seaport Res Ptn also issued estimates for Fortive’s Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $3.79 EPS and Q1 2025 earnings at $0.90 EPS.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion.

FTV has been the subject of a number of other reports. Royal Bank of Canada cut their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Barclays upped their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Vertical Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Truist Financial began coverage on Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.46.

Fortive Price Performance

Fortive stock opened at $75.97 on Friday. The business has a 50 day simple moving average of $83.83 and a 200 day simple moving average of $76.13. Fortive has a one year low of $62.77 and a one year high of $87.10. The company has a market capitalization of $26.74 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO acquired a new stake in shares of Fortive during the first quarter worth $26,000. OFI Invest Asset Management bought a new position in Fortive during the third quarter worth about $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Fortive during the 3rd quarter worth about $28,000. Cetera Trust Company N.A bought a new stake in shares of Fortive in the 4th quarter valued at about $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Fortive in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 value of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the sale, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by corporate insiders.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.