Fortive Corporation (NYSE:FTV) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.74-0.78 for the period, compared to the Thomson Reuters consensus estimate of $0.77.
Shares of Fortive Corporation (NYSE FTV) opened at $72.65 on Friday. Fortive Corporation has a twelve month low of $52.99 and a twelve month high of $74.38. The company has a market capitalization of $25,250.16, a PE ratio of 26.32, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Fortive Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. analysts expect that Fortive Corporation will post 2.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s payout ratio is 10.57%.
FTV has been the topic of a number of research reports. Zacks Investment Research upgraded Fortive Corporation from a hold rating to a buy rating and set a $78.00 price target on the stock in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a buy rating and issued a $81.00 target price on shares of Fortive Corporation in a research note on Friday, October 27th. Morgan Stanley reiterated an equal weight rating and issued a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Stifel Nicolaus reissued a hold rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $66.00 price objective on shares of Fortive Corporation in a report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Fortive Corporation has an average rating of Hold and an average price target of $69.10.
In other Fortive Corporation news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,340 shares of company stock valued at $4,437,021. 12.10% of the stock is owned by company insiders.
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About Fortive Corporation
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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