Fortive (NYSE:FTV) Updates FY 2024 Earnings Guidance

Fortive (NYSE:FTV) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.840-3.870 for the period, compared to the consensus earnings per share estimate of 3.810. The company issued revenue guidance of $6.2 billion-$6.3 billion, compared to the consensus revenue estimate of $6.3 billion.

Analyst Ratings Changes

FTV has been the subject of several recent analyst reports. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. 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. Finally, Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.20.

Fortive Stock Performance

NYSE FTV traded up $0.36 on Monday, reaching $71.70. The stock had a trading volume of 585,916 shares, compared to its average volume of 1,900,584. Fortive has a 1-year low of $64.69 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95. The company has a market cap of $24.88 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The firm has a fifty day moving average of $75.27 and a two-hundred day moving average of $74.39.

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 the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Fortive will post 3.85 EPS for the current year.

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 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 currently 12.75%.

Insiders Place Their Bets

In other 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 transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.