$1.41 Billion in Sales Expected for Fortive Co. (NYSE:FTV) This Quarter

Analysts expect Fortive Co. (NYSE:FTVGet Rating) to report sales of $1.41 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Fortive’s earnings, with the highest sales estimate coming in at $1.43 billion and the lowest estimate coming in at $1.40 billion. Fortive posted sales of $1.32 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Fortive will report full year sales of $5.81 billion for the current fiscal year, with estimates ranging from $5.80 billion to $5.82 billion. For the next year, analysts expect that the firm will report sales of $6.11 billion, with estimates ranging from $6.05 billion to $6.15 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Fortive.

Fortive (NYSE:FTVGet Rating) last announced its earnings results on Thursday, April 28th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Fortive had a return on equity of 10.87% and a net margin of 12.32%. 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 previous year, the business earned $0.63 EPS. Fortive’s revenue was up 9.3% compared to the same quarter last year.

Several analysts have commented on the stock. TheStreet cut shares of Fortive from a “b” rating to a “c+” rating in a research report on Wednesday, February 16th. StockNews.com assumed coverage on shares of Fortive in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their target price on shares of Fortive from $98.00 to $95.00 in a research report on Friday, February 4th. Credit Suisse Group dropped their target price on shares of Fortive from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, February 4th. Finally, Citigroup dropped their target price on shares of Fortive from $99.00 to $91.00 in a research report on Friday, February 4th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $80.71.

FTV stock opened at $58.27 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.74. The company has a 50 day moving average price of $59.56 and a 200 day moving average price of $67.10. Fortive has a fifty-two week low of $56.06 and a fifty-two week high of $79.87. The stock has a market capitalization of $20.89 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11.

Fortive declared that its board has approved a share buyback program on Thursday, February 17th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, May 27th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, May 26th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. Fortive’s dividend payout ratio is 15.56%.

In other Fortive news, SVP Stacey A. Walker sold 1,297 shares of the stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $63.87, for a total value of $82,839.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan G. Spoon purchased 17,400 shares of the stock in a transaction on Monday, May 2nd. The stock was bought at an average cost of $58.25 per share, for a total transaction of $1,013,550.00. Following the completion of the acquisition, the director now owns 98,861 shares in the company, valued at $5,758,653.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 3,379 shares of company stock valued at $215,546. Company insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in Fortive by 12.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 568,630 shares of the technology company’s stock worth $34,647,000 after acquiring an additional 63,018 shares during the last quarter. Toroso Investments LLC lifted its stake in shares of Fortive by 12.9% in the 1st quarter. Toroso Investments LLC now owns 7,976 shares of the technology company’s stock valued at $486,000 after purchasing an additional 914 shares during the period. BNP Paribas Arbitrage SA raised its stake in Fortive by 22.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 150,605 shares of the technology company’s stock worth $9,176,000 after buying an additional 27,382 shares during the period. O Brien Greene & Co. Inc raised its stake in Fortive by 1.6% during the 1st quarter. O Brien Greene & Co. Inc now owns 66,459 shares of the technology company’s stock worth $4,049,000 after buying an additional 1,057 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. raised its stake in Fortive by 47.0% during the 1st quarter. Eubel Brady & Suttman Asset Management Inc. now owns 324,085 shares of the technology company’s stock worth $19,746,000 after buying an additional 103,654 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

About Fortive (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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