Seaport Res Ptn Comments on Fortive Co.’s Q2 2024 Earnings (NYSE:FTV)

Fortive Co. (NYSE:FTV) – Analysts at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for Fortive in a note issued to investors on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings per share of $0.91 for the quarter, down from their prior forecast of $0.94. The consensus estimate for Fortive’s current full-year earnings is $3.80 per share. Seaport Res Ptn also issued estimates for Fortive’s Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $4.17 EPS.

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

FTV has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Truist Financial started coverage on shares of Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective for the company. Finally, Citigroup decreased their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Seven research 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.46.

Fortive Stock Up 1.4 %

Shares of NYSE FTV opened at $77.02 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The company has a market cap of $27.11 billion, a P/E ratio of 30.44, a PEG ratio of 2.22 and a beta of 1.13. Fortive has a 1 year low of $62.97 and a 1 year high of $87.10. The firm has a 50-day simple moving average of $83.68 and a two-hundred day simple moving average of $76.13.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued 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 is currently 12.65%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Fortive

A number of large investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO purchased a new stake in Fortive in the first quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in Fortive in the third quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new stake in Fortive in the third quarter valued at $28,000. Cetera Trust Company N.A purchased a new stake in Fortive in the fourth quarter valued at $28,000. Finally, First Command Advisory Services Inc. purchased a new stake in Fortive in the third quarter valued at $30,000. 94.94% of the stock is owned by hedge funds and other 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.