Equities research analysts forecast that Fortive Corp (NYSE:FTV) will post earnings of $0.89 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Fortive’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.87. Fortive posted earnings per share of $0.71 in the same quarter last year, which would suggest a positive year over year growth rate of 25.4%. The company is scheduled to report its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that Fortive will report full-year earnings of $3.49 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.51. For the next financial year, analysts forecast that the company will post earnings of $3.71 per share, with EPS estimates ranging from $3.28 to $3.83. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Fortive.
Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, April 26th. The technology company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. Fortive had a return on equity of 29.86% and a net margin of 16.12%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share.
Several research firms have recently commented on FTV. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a report on Monday. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a report on Friday, March 9th. Finally, Barclays began coverage on Fortive in a report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fortive presently has a consensus rating of “Buy” and an average target price of $80.89.
In other Fortive news, VP Emily A. Weaver sold 18,354 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $73.80, for a total value of $1,354,525.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James A. Lico sold 75,000 shares of the company’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $71.93, for a total value of $5,394,750.00. Following the completion of the transaction, the insider now owns 307,442 shares of the company’s stock, valued at approximately $22,114,303.06. The disclosure for this sale can be found here. 12.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in FTV. Victory Capital Management Inc. grew its stake in Fortive by 10.9% in the 4th quarter. Victory Capital Management Inc. now owns 51,789 shares of the technology company’s stock valued at $3,747,000 after purchasing an additional 5,083 shares during the period. Calton & Associates Inc. purchased a new position in shares of Fortive during the 4th quarter valued at $107,000. M&T Bank Corp lifted its position in shares of Fortive by 2.5% during the 4th quarter. M&T Bank Corp now owns 56,280 shares of the technology company’s stock valued at $4,072,000 after buying an additional 1,391 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Fortive by 4.0% during the 4th quarter. California Public Employees Retirement System now owns 658,394 shares of the technology company’s stock valued at $47,635,000 after buying an additional 25,325 shares during the last quarter. Finally, Sigma Planning Corp purchased a new position in shares of Fortive during the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 79.60% of the company’s stock.
Shares of Fortive traded up $2.04, hitting $80.13, during midday trading on Thursday, according to Marketbeat. 2,548,436 shares of the stock traded hands, compared to its average volume of 1,619,781. The company has a market cap of $27.32 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.13 and a beta of 0.52. Fortive has a one year low of $62.05 and a one year high of $80.45. The company has a quick ratio of 1.69, a current ratio of 2.11 and a debt-to-equity ratio of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, May 25th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. Fortive’s dividend payout ratio (DPR) is presently 9.69%.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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