Brokerages expect Fortive Corp (NYSE:FTV) to report earnings of $0.87 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Fortive’s earnings, with the lowest EPS estimate coming in at $0.86 and the highest estimate coming in at $0.89. Fortive reported earnings per share of $0.86 during the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The company is scheduled to announce its next earnings report on Thursday, October 24th.
On average, analysts expect that Fortive will report full year earnings of $3.50 per share for the current year, with EPS estimates ranging from $3.45 to $3.56. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.85 per share, with EPS estimates ranging from $3.71 to $3.95. Zacks’ EPS averages are an average based on a survey of analysts that cover Fortive.
Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year.
FTV has been the subject of several recent research reports. Bank of America reduced their price target on shares of Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley lowered shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Fortive from a “hold” rating to a “sell” rating and set a $74.00 price target for the company. in a report on Friday, August 30th. Gordon Haskett lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Raymond James set a $84.00 price target on shares of Fortive and gave the company an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.04.
Shares of NYSE:FTV traded up $1.14 during trading hours on Friday, hitting $68.10. The company’s stock had a trading volume of 4,202,393 shares, compared to its average volume of 1,592,551. Fortive has a 52 week low of $62.89 and a 52 week high of $89.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market capitalization of $22.85 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.63 and a beta of 1.22. The firm’s fifty day moving average price is $72.51 and its 200 day moving average price is $79.74.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
In related news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares in the company, valued at approximately $1,415,060.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glassman Wealth Services raised its stake in shares of Fortive by 158.8% during the 1st quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Fortive during the 2nd quarter worth approximately $33,000. Aspire Private Capital LLC raised its stake in shares of Fortive by 514.7% during the 1st quarter. Aspire Private Capital LLC now owns 418 shares of the technology company’s stock worth $35,000 after acquiring an additional 350 shares in the last quarter. Kavar Capital Partners LLC bought a new position in shares of Fortive during the 2nd quarter worth approximately $37,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Fortive during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 84.30% 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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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