Seaport Res Ptn Weighs in on Fortive Co.’s Q2 2024 Earnings (NYSE:FTV)

Fortive Co. (NYSE:FTV) – Stock analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for shares of Fortive in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings of $0.91 per share for the quarter, down from their previous estimate of $0.94. The consensus estimate for Fortive’s current full-year earnings is $3.80 per share. Seaport Res Ptn also issued estimates for Fortive’s Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $4.17 EPS.

A number of other equities analysts have also recently weighed in on FTV. Citigroup reduced their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company lowered their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Vertical Research cut Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Barclays upped their price target on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Fortive Stock Down 2.2 %

Fortive stock opened at $75.27 on Monday. Fortive has a fifty-two week low of $62.97 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.22 and a beta of 1.13. The company’s 50 day simple moving average is $83.52 and its 200 day simple moving average is $76.14.

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

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently bought and sold shares of FTV. OFI Invest Asset Management acquired a new position in shares of Fortive during the 3rd quarter worth approximately $25,000. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive in the first quarter valued at $26,000. Cornerstone Planning Group LLC acquired a new position in shares of Fortive in the third quarter valued at $28,000. Cetera Trust Company N.A bought a new position in shares of Fortive in the fourth quarter valued at about $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Fortive during the 3rd quarter worth about $30,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,937 shares of company stock worth $5,475,122. Corporate insiders own 0.95% of the company’s stock.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio is currently 12.65%.

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.