Fortive (NYSE:FTV) Releases Q2 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.90-0.93 for the period, compared to the consensus estimate of $0.94. The company issued revenue guidance of ~$1.6 billion, compared to the consensus revenue estimate of $1.62 billion. Fortive also updated its FY 2024 guidance to 3.770-3.860 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FTV. JPMorgan Chase & Co. downgraded Fortive from an overweight rating to a neutral rating and lowered their price objective for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Vertical Research downgraded Fortive from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Wells Fargo & Company lowered their price objective on Fortive from $92.00 to $84.00 and set an equal weight rating for the company in a research report on Thursday. Barclays lifted their price objective on Fortive from $89.00 to $97.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Finally, Mizuho lifted their price objective on Fortive from $70.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, February 1st. Seven analysts have rated the stock with a hold rating and seven have issued 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 $86.46.

Fortive Price Performance

FTV stock opened at $75.97 on Friday. The stock has a 50-day moving average price of $83.83 and a two-hundred day moving average price of $76.13. Fortive has a 12-month low of $62.77 and a 12-month high of $87.10. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The company has a market cap of $26.74 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, research analysts predict that Fortive will post 3.8 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is presently 12.65%.

Insiders Place Their Bets

In related news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the sale, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock worth $5,475,122 over the last quarter. 0.95% 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.