Fortive (NYSE:FTV) Releases Q4 Earnings Guidance

Fortive (NYSE:FTV) updated its fourth quarter earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FTV. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, September 5th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

Fortive Price Performance

Fortive stock traded down $0.09 during midday 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 stock has a market cap of $24.99 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. 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 business has a 50-day moving average price of $75.27 and a 200-day moving average price of $74.48.

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

Fortive Dividend Announcement

The company also recently announced 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio is presently 12.75%.

Insider Activity at Fortive

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