Fortive (NYSE:FTV) Updates Q4 Earnings Guidance

Fortive (NYSE:FTV) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.11-1.14 for the period, compared to the consensus earnings per share estimate of $1.13. The company issued revenue guidance of $1.63-1.65 billion, compared to the consensus revenue estimate of $1.66 billion. Fortive also updated its Q4 2024 guidance to 1.110-1.140 EPS.

Fortive Trading Down 0.1 %

Shares of NYSE:FTV traded down $0.09 during midday trading on Friday, reaching $71.34. The company had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,123. The company has a fifty day simple moving average of $75.27 and a two-hundred day simple moving average of $74.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.25. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. Fortive has a 1-year low of $64.69 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Research analysts predict that Fortive will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive’s payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FTV. Royal Bank of Canada dropped their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

Insider Activity at Fortive

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

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.