Q3 2024 EPS Estimates for Fortive Co. Increased by Analyst (NYSE:FTV)

Fortive Co. (NYSE:FTV) – Equities researchers at Seaport Res Ptn increased their Q3 2024 earnings estimates for shares of Fortive in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will earn $0.96 per share for the quarter, up from their prior forecast of $0.95. The consensus estimate for Fortive’s current full-year earnings is $3.79 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 issued its 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. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial started coverage on shares of Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target for the company. Royal Bank of Canada lowered their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup lowered their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $86.46.

Fortive Price Performance

Shares of FTV stock opened at $75.97 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75. The company has a market capitalization of $26.74 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.32 and a beta of 1.13. The company’s 50-day simple moving average is $83.83 and its two-hundred day simple moving average is $76.13. Fortive has a one year low of $62.77 and a one year high of $87.10.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s payout ratio is currently 12.65%.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive 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 completion of the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Insiders have sold 63,937 shares of company stock worth $5,475,122 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

Institutional Trading of Fortive

Several institutional investors have recently modified their holdings of FTV. OFI Invest Asset Management purchased a new position in shares of Fortive in the third quarter worth about $25,000. Indiana Trust & Investment Management CO purchased a new position in shares of Fortive in the first quarter worth about $26,000. Cornerstone Planning Group LLC purchased a new position in shares of Fortive in the third quarter worth about $28,000. Cetera Trust Company N.A purchased a new position in shares of Fortive in the fourth quarter worth about $28,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Fortive in the third quarter worth about $30,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Fortive

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.