FY2024 EPS Estimates for Fortive Reduced by Seaport Res Ptn

Fortive Co. (NYSE:FTV) – Equities researchers at Seaport Res Ptn cut their FY2024 earnings estimates for Fortive in a report issued on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now forecasts that the technology company will earn $3.84 per share for the year, down from their previous estimate of $3.85. The consensus estimate for Fortive’s current full-year earnings is $3.85 per share. Seaport Res Ptn also issued estimates for Fortive’s Q4 2025 earnings at $1.18 EPS.

FTV has been the subject of several other reports. UBS Group initiated coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. Finally, Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.82.

Fortive Stock Up 0.7 %

Shares of NYSE FTV opened at $75.00 on Wednesday. The company has a 50 day simple moving average of $76.05 and a 200 day simple moving average of $74.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market cap of $26.02 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is 12.75%.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % 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.

Institutional Trading of Fortive

Several hedge funds have recently bought and sold shares of FTV. Geode Capital Management LLC grew its holdings in shares of Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after buying an additional 46,704 shares during the last quarter. Janus Henderson Group PLC lifted its position in Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after purchasing an additional 103,530 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the last quarter. Institutional investors and hedge funds own 94.94% 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.