Fortive (NYSE:FTV) Releases FY 2022 Earnings Guidance

Fortive (NYSE:FTVGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $3.04-$3.13 for the period, compared to the consensus earnings per share estimate of $3.09. The company issued revenue guidance of $5.77 billion-$5.88 billion, compared to the consensus revenue estimate of $5.80 billion.Fortive also updated its Q2 2022 guidance to $0.70-$0.73 EPS.

NYSE FTV opened at $59.23 on Tuesday. The stock has a market cap of $21.23 billion, a PE ratio of 32.91, a PEG ratio of 1.89 and a beta of 1.11. Fortive has a 12 month low of $56.06 and a 12 month high of $79.87. The company’s 50-day moving average price is $59.67 and its 200-day moving average price is $68.06. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.29.

Fortive (NYSE:FTVGet Rating) last issued its earnings results on Thursday, April 28th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Fortive had a net margin of 12.32% and a return on equity of 10.87%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Fortive will post 3.09 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, May 27th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, May 26th. Fortive’s dividend payout ratio (DPR) is presently 15.56%.

Fortive declared that its board has initiated a share repurchase program on Thursday, February 17th that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

A number of research firms recently weighed in on FTV. Citigroup lowered their price objective on shares of Fortive from $99.00 to $91.00 in a research note on Friday, February 4th. Barclays raised shares of Fortive from an equal weight rating to an overweight rating and set a $75.00 price target for the company in a research report on Monday, March 14th. Argus raised shares of Fortive from a hold rating to a buy rating and set a $68.00 price objective on the stock in a report on Thursday, March 17th. StockNews.com initiated coverage on Fortive in a report on Thursday, March 31st. They set a hold rating for the company. Finally, TheStreet cut Fortive from a b rating to a c+ rating in a research report on Wednesday, February 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $80.71.

In other Fortive news, CAO Christopher M. Mulhall sold 2,736 shares of the business’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $66.38, for a total transaction of $181,615.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 1,297 shares of the firm’s stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $63.87, for a total value of $82,839.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,115 shares of company stock valued at $397,162. 4.40% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Barclays PLC raised its position in Fortive by 23.6% during the 4th quarter. Barclays PLC now owns 650,170 shares of the technology company’s stock worth $49,602,000 after buying an additional 124,246 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Fortive by 4.8% during the fourth quarter. California State Teachers Retirement System now owns 620,585 shares of the technology company’s stock worth $47,344,000 after purchasing an additional 28,245 shares during the last quarter. Comerica Bank lifted its position in Fortive by 4.2% during the fourth quarter. Comerica Bank now owns 96,292 shares of the technology company’s stock valued at $6,729,000 after purchasing an additional 3,893 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Fortive by 27.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 56,768 shares of the technology company’s stock valued at $4,331,000 after purchasing an additional 12,213 shares during the last quarter. Finally, Allstate Corp grew its position in Fortive by 430.1% during the 4th quarter. Allstate Corp now owns 41,143 shares of the technology company’s stock worth $3,139,000 after purchasing an additional 33,382 shares during the period. Institutional investors own 95.21% of the company’s stock.

Fortive Company Profile (Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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