Fortive (NYSE:FTV) Announces Earnings Results

Fortive (NYSE:FTV) issued its quarterly earnings data on Wednesday. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04, Briefing.com reports. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Fortive updated its Q4 2024 guidance to 1.110-1.140 EPS and its Q4 guidance to $1.11-1.14 EPS.

Fortive Stock Down 0.9 %

Shares of Fortive stock traded down $0.66 on Thursday, hitting $71.43. 3,174,400 shares of the company traded hands, compared to its average volume of 1,901,359. The company has a market cap of $25.15 billion, a PE ratio of 28.23, a PEG ratio of 2.21 and a beta of 1.12. The company has a 50-day moving average price of $75.33 and a 200 day moving average price of $74.57. Fortive has a 12-month low of $64.44 and a 12-month high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive’s payout ratio is 12.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTV. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Royal Bank of Canada lowered their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Finally, Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.30.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

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.