Vontier (NYSE:VNT) Shares Gap Up Following Better-Than-Expected Earnings

Vontier Co. (NYSE:VNT) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $34.08, but opened at $36.29. Vontier shares last traded at $37.06, with a volume of 57,028 shares traded.

The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Vontier had a net margin of 13.54% and a return on equity of 45.48%. The company had revenue of $750.00 million during the quarter, compared to analyst estimates of $729.23 million. During the same period in the previous year, the firm earned $0.73 earnings per share. Vontier’s quarterly revenue was down 2.0% compared to the same quarter last year.

Vontier Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a dividend of $0.025 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.10 annualized dividend and a yield of 0.27%. Vontier’s payout ratio is 3.83%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VNT shares. Evercore ISI dropped their target price on Vontier from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Robert W. Baird cut their price objective on Vontier from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays reduced their target price on Vontier from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Argus lowered shares of Vontier from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Vontier has a consensus rating of “Moderate Buy” and an average price target of $44.25.

Institutional Investors Weigh In On Vontier

Several hedge funds have recently made changes to their positions in VNT. Covestor Ltd raised its holdings in shares of Vontier by 37.1% in the third quarter. Covestor Ltd now owns 1,461 shares of the company’s stock valued at $49,000 after acquiring an additional 395 shares in the last quarter. Blue Trust Inc. increased its position in Vontier by 10.9% during the 3rd quarter. Blue Trust Inc. now owns 4,171 shares of the company’s stock valued at $141,000 after purchasing an additional 410 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Vontier by 3.3% in the 2nd quarter. Ritholtz Wealth Management now owns 13,129 shares of the company’s stock valued at $502,000 after purchasing an additional 420 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Vontier by 6.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,729 shares of the company’s stock worth $295,000 after purchasing an additional 448 shares during the period. Finally, Creative Planning boosted its stake in shares of Vontier by 2.8% during the second quarter. Creative Planning now owns 17,918 shares of the company’s stock valued at $684,000 after purchasing an additional 491 shares in the last quarter. 95.83% of the stock is currently owned by hedge funds and other institutional investors.

Vontier Trading Down 0.3 %

The company has a market capitalization of $5.68 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.64 and a quick ratio of 1.26. The company’s fifty day moving average is $33.95 and its 200-day moving average is $36.95.

Vontier Company Profile

Vontier Corporation provides mobility ecosystem solutions worldwide. The company operates through Mobility Technologies, Repair Solutions, and Environmental and Fueling Solutions segments. The Mobility Technologies segment provides digitally equipment solutions for mobility ecosystem, such as point-of-sale and payment systems, workflow automation, telematics, data analytics, software platform, and integrated solutions for alternative fuel dispensing.