Fortive Co. (NYSE:FTV) to Post Q3 2024 Earnings of $0.96 Per Share, Seaport Res Ptn Forecasts

Fortive Co. (NYSE:FTV) – Equities researchers at Seaport Res Ptn boosted their Q3 2024 EPS estimates for shares of Fortive in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will earn $0.96 per share for the quarter, up from their prior forecast of $0.95. The consensus estimate for Fortive’s current full-year earnings is $3.79 per share. Seaport Res Ptn also issued estimates for Fortive’s Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $3.79 EPS and Q1 2025 earnings at $0.90 EPS.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company dropped their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Barclays raised their price objective on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup decreased their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.46.

Fortive Stock Performance

Shares of FTV opened at $76.21 on Friday. The company has a market cap of $26.83 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $84.00 and a 200-day moving average price of $76.13. Fortive has a 12-month low of $62.70 and a 12-month high of $87.10.

Institutional Investors Weigh In On Fortive

Hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in Fortive in the third quarter worth $25,000. Indiana Trust & Investment Management CO bought a new stake in Fortive in the first quarter worth $26,000. Cornerstone Planning Group LLC bought a new position in shares of Fortive during the third quarter valued at $28,000. Cetera Trust Company N.A bought a new position in shares of Fortive during the fourth quarter valued at $28,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Fortive during the third quarter valued at $30,000. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. Company insiders own 0.95% of the company’s stock.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

About Fortive

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.