Fortive (NYSE:FTV – Get Free Report) released its earnings results on Wednesday. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04, Briefing.com reports. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 2.7% on a year-over-year basis. Fortive updated its Q4 2024 guidance to 1.110-1.140 EPS and its Q4 guidance to $1.11-1.14 EPS.
Fortive Stock Down 0.9 %
NYSE:FTV traded down $0.66 during trading hours on Thursday, hitting $71.43. 3,174,400 shares of the company traded hands, compared to its average volume of 1,901,359. Fortive has a one year low of $64.44 and a one year high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a market cap of $25.15 billion, a PE ratio of 28.23, a PEG ratio of 2.21 and a beta of 1.12. The firm’s 50-day simple moving average is $75.33 and its 200-day simple moving average is $74.57.
Fortive Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive’s payout ratio is currently 12.65%.
Insider Activity at Fortive
Analyst Ratings Changes
Several brokerages have issued reports on FTV. Royal Bank of Canada dropped their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average target price of $88.30.
Get Our Latest Stock Analysis on FTV
About Fortive
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.
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