FY2018 EPS Estimates for Fortive Corp (FTV) Increased by Analyst

Fortive Corp (NYSE:FTV) – Stock analysts at SunTrust Banks raised their FY2018 EPS estimates for shares of Fortive in a report released on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the technology company will earn $3.51 per share for the year, up from their prior forecast of $3.19. SunTrust Banks has a “Buy” rating and a $81.00 price target on the stock. SunTrust Banks also issued estimates for Fortive’s FY2019 earnings at $3.80 EPS.

Other equities research analysts have also recently issued reports about the stock. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 price target (up from $71.00) on shares of Fortive in a research report on Monday, October 2nd. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $66.00 price target on shares of Fortive in a research report on Friday, September 15th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $71.45.

Fortive (NYSE:FTV) traded up $0.76 on Thursday, hitting $74.47. 1,280,000 shares of the company traded hands, compared to its average volume of 1,110,000. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive has a twelve month low of $53.36 and a twelve month high of $75.69. The firm has a market capitalization of $25,880.00 and a PE ratio of 28.10.

Fortive (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is 10.57%.

In other news, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the sale, the insider now owns 166,014 shares in the company, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FTV. Federated Investors Inc. PA raised its stake in shares of Fortive by 185.2% during the second quarter. Federated Investors Inc. PA now owns 8,330 shares of the technology company’s stock valued at $528,000 after purchasing an additional 5,409 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Fortive by 15.6% during the second quarter. Commonwealth Bank of Australia now owns 10,022 shares of the technology company’s stock valued at $634,000 after purchasing an additional 1,350 shares during the period. Aberdeen Asset Management PLC UK raised its stake in shares of Fortive by 6.9% during the second quarter. Aberdeen Asset Management PLC UK now owns 71,496 shares of the technology company’s stock valued at $4,530,000 after purchasing an additional 4,606 shares during the period. Seven Eight Capital LP raised its stake in shares of Fortive by 23.7% during the second quarter. Seven Eight Capital LP now owns 42,731 shares of the technology company’s stock valued at $2,707,000 after purchasing an additional 8,200 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Fortive by 11.1% during the second quarter. Teachers Advisors LLC now owns 1,889,724 shares of the technology company’s stock valued at $119,714,000 after purchasing an additional 188,907 shares during the period. Institutional investors own 78.75% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “FY2018 EPS Estimates for Fortive Corp (FTV) Increased by Analyst” was first published by Stock Observer and is owned by of Stock Observer. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.thestockobserver.com/2018/01/13/fy2018-eps-estimates-for-fortive-corp-ftv-increased-by-analyst.html.

About Fortive

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

Earnings History and Estimates for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply