Fortive Corp (NYSE:FTV) – Investment analysts at SunTrust Banks raised their Q1 2018 EPS estimates for Fortive in a report issued on Monday. SunTrust Banks analyst C. Brady now anticipates that the technology company will post earnings of $0.75 per share for the quarter, up from their previous forecast of $0.71. SunTrust Banks has a “Buy” rating and a $81.00 price target on the stock. SunTrust Banks also issued estimates for Fortive’s Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.44 EPS, Q1 2019 earnings at $0.80 EPS, Q2 2019 earnings at $0.95 EPS, Q3 2019 earnings at $0.98 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $3.71 EPS.
Several other brokerages have also recently commented on FTV. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets restated a “buy” rating and issued a $88.00 target price on shares of Fortive in a research report on Friday, January 26th. Royal Bank of Canada restated a “hold” rating and issued a $79.00 target price on shares of Fortive in a research report on Thursday, January 4th. Finally, UBS Group began coverage on shares of Fortive in a research report on Monday, January 22nd. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fortive currently has a consensus rating of “Buy” and an average price target of $75.50.
Shares of Fortive (FTV) opened at $74.19 on Wednesday. The stock has a market cap of $25,790.00 and a PE ratio of 26.88. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 1.07. Fortive has a twelve month low of $56.73 and a twelve month high of $76.68.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS.
Hedge funds have recently added to or reduced their stakes in the stock. APG Asset Management N.V. increased its position in Fortive by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after purchasing an additional 724,400 shares in the last quarter. Toronto Dominion Bank increased its position in Fortive by 24.5% during the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after purchasing an additional 20,519 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fortive by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after purchasing an additional 273,003 shares in the last quarter. Park National Corp OH increased its position in Fortive by 72.9% during the 3rd quarter. Park National Corp OH now owns 46,309 shares of the technology company’s stock worth $3,278,000 after purchasing an additional 19,529 shares in the last quarter. Finally, Westpac Banking Corp increased its position in Fortive by 321.1% during the 4th quarter. Westpac Banking Corp now owns 84,842 shares of the technology company’s stock worth $6,138,000 after purchasing an additional 64,693 shares in the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio is 10.14%.
Fortive Company Profile
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.
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