Fortive Corp (NYSE:FTV) – Equities researchers at William Blair reduced their Q4 2018 earnings per share estimates for Fortive in a note issued to investors on Monday, October 29th. William Blair analyst B. Drab now anticipates that the technology company will earn $0.87 per share for the quarter, down from their previous forecast of $0.90. William Blair also issued estimates for Fortive’s Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.90 EPS and FY2019 earnings at $3.42 EPS.
FTV has been the topic of several other research reports. Argus raised their price target on Fortive to $94.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. UBS Group raised their price target on Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, October 1st. SunTrust Banks cut their target price on Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Finally, Credit Suisse Group cut their target price on Fortive from $89.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, October 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fortive currently has a consensus rating of “Buy” and an average target price of $87.18.
Shares of NYSE FTV opened at $74.86 on Thursday. The company has a market capitalization of $23.94 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.89 and a beta of 0.56. Fortive has a 12-month low of $69.03 and a 12-month high of $88.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.79 and a current ratio of 0.98.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortive had a return on equity of 24.91% and a net margin of 15.72%.
In other news, insider William W. Pringle sold 440 shares of Fortive stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the transaction, the insider now directly owns 20,626 shares in the company, valued at approximately $1,637,291.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William W. Pringle sold 6,316 shares of Fortive stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.08, for a total value of $512,101.28. Following the transaction, the insider now owns 21,066 shares in the company, valued at $1,708,031.28. The disclosure for this sale can be found here. Insiders have sold a total of 54,088 shares of company stock worth $4,367,194 in the last ninety days. 12.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of FTV. Toth Financial Advisory Corp increased its position in shares of Fortive by 105.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after purchasing an additional 705 shares during the period. Fort L.P. acquired a new position in shares of Fortive during the 2nd quarter valued at $122,000. Stratos Wealth Partners LTD. acquired a new position in shares of Fortive during the 3rd quarter valued at $127,000. Flagship Harbor Advisors LLC acquired a new position in shares of Fortive during the 2nd quarter valued at $132,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Fortive by 5,816.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock valued at $137,000 after purchasing an additional 1,745 shares during the period. Institutional investors own 81.49% 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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