Fortive (NYSE:FTV) Updates Q4 Earnings Guidance

Fortive (NYSE:FTV) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.11-1.14 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several research firms recently weighed in on FTV. Barclays reduced their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, 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. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.20.

Fortive Price Performance

Shares of FTV traded down $0.09 during trading hours on Friday, hitting $71.34. The stock had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,123. Fortive has a 52 week low of $64.69 and a 52 week high of $87.10. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.09 and a beta of 1.12. The company’s fifty day moving average is $75.27 and its two-hundred day moving average is $74.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last posted its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. On average, analysts anticipate that Fortive will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid 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 dividend payout ratio (DPR) is presently 12.75%.

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate 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.