Fortive (NYSE:FTV) Releases Q4 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.11-1.14 for the period, compared to the consensus earnings per share estimate of $1.13. The company issued revenue guidance of $1.63-1.65 billion, compared to the consensus revenue estimate of $1.66 billion. Fortive also updated its Q4 2024 guidance to 1.110-1.140 EPS.

Analysts Set New Price Targets

FTV has been the topic of several research analyst reports. Barclays dropped their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.20.

Fortive Trading Down 0.1 %

Shares of FTV traded down $0.09 during mid-day trading on Friday, reaching $71.34. The company’s stock had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,123. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. Fortive has a 52 week low of $64.69 and a 52 week high of $87.10. The company’s fifty day moving average price is $75.27 and its two-hundred day moving average price is $74.48. The stock has a market cap of $24.99 billion, a PE ratio of 28.42, a P/E/G ratio of 2.09 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.45%. Fortive’s payout ratio is currently 12.75%.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

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.