Wall Street brokerages expect that Fortive Corp (NYSE:FTV) will report earnings of $0.89 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Fortive’s earnings. The lowest EPS estimate is $0.87 and the highest is $0.90. Fortive posted earnings of $0.71 per share during the same quarter last year, which suggests a positive year over year growth rate of 25.4%. The company is expected to report its next earnings report after the market closes on Thursday, July 26th.
On average, analysts expect that Fortive will report full-year earnings of $3.50 per share for the current fiscal year, with EPS estimates ranging from $3.48 to $3.51. For the next financial year, analysts anticipate that the company will report earnings of $3.77 per share, with EPS estimates ranging from $3.71 to $3.85. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Fortive.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, April 26th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.71 billion. Fortive had a net margin of 16.12% and a return on equity of 29.86%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS.
Several research firms have issued reports on FTV. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Friday, June 22nd. ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Wolfe Research began coverage on shares of Fortive in a research report on Wednesday, June 27th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research report on Friday, March 9th. Finally, TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a research report on Monday, June 11th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $80.78.
Fortive opened at $76.54 on Friday, according to MarketBeat. The company has a current ratio of 2.11, a quick ratio of 1.69 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $26.76 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.08 and a beta of 0.49. Fortive has a 52-week low of $62.05 and a 52-week high of $81.51.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, May 25th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. Fortive’s dividend payout ratio (DPR) is currently 9.69%.
In other news, VP Emily A. Weaver sold 18,354 shares of Fortive stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $73.80, for a total transaction of $1,354,525.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James A. Lico sold 75,000 shares of Fortive stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $71.93, for a total transaction of $5,394,750.00. Following the sale, the insider now owns 307,442 shares in the company, valued at $22,114,303.06. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of FTV. Virtu Financial LLC acquired a new stake in shares of Fortive during the 4th quarter valued at about $398,000. OppenheimerFunds Inc. boosted its position in shares of Fortive by 9.2% during the 4th quarter. OppenheimerFunds Inc. now owns 13,907 shares of the technology company’s stock valued at $1,006,000 after acquiring an additional 1,171 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of Fortive by 6.4% during the 4th quarter. Standard Life Aberdeen plc now owns 77,131 shares of the technology company’s stock valued at $5,584,000 after acquiring an additional 4,662 shares in the last quarter. Amalgamated Bank boosted its position in Fortive by 9.6% in the fourth quarter. Amalgamated Bank now owns 40,348 shares of the technology company’s stock valued at $2,919,000 after buying an additional 3,540 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Fortive by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 3,451,046 shares of the technology company’s stock valued at $249,190,000 after buying an additional 69,989 shares in the last quarter. Institutional investors and hedge funds own 79.65% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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