Vontier (NYSE:VNT) Shares Gap Up on Earnings Beat

Vontier Corporation (NYSE:VNT) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $37.58, but opened at $42.01. Vontier shares last traded at $40.0340, with a volume of 300,790 shares traded.

The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Vontier had a net margin of 11.34% and a return on equity of 38.57%. The business had revenue of $736.90 million for the quarter, compared to analyst estimates of $727.98 million. During the same quarter last year, the firm earned $0.78 EPS. Vontier’s quarterly revenue was down 2.1% compared to the same quarter last year.

Vontier Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd were paid a $0.0250 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, September 3rd. Vontier’s dividend payout ratio (DPR) is currently 4.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings raised Vontier from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Wolfe Research restated an “outperform” rating and set a $43.00 price objective on shares of Vontier in a research note on Thursday, July 9th. KeyCorp boosted their price objective on shares of Vontier from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $39.00 target price on shares of Vontier in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Vontier presently has an average rating of “Hold” and a consensus target price of $41.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VNT. Private Management Group Inc. increased its holdings in Vontier by 4.5% during the 3rd quarter. Private Management Group Inc. now owns 743,814 shares of the company’s stock worth $23,356,000 after purchasing an additional 32,061 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in Vontier in the 3rd quarter valued at $494,000. Ethic Inc. raised its position in Vontier by 91.5% in the 3rd quarter. Ethic Inc. now owns 17,600 shares of the company’s stock valued at $553,000 after buying an additional 8,411 shares during the last quarter. Parallel Advisors LLC lifted its stake in Vontier by 106.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,674 shares of the company’s stock valued at $115,000 after acquiring an additional 1,894 shares in the last quarter. Finally, Villanova Investment Management Co purchased a new position in Vontier during the 3rd quarter worth $1,808,000. 95.83% of the stock is owned by institutional investors.

Vontier Stock Up 6.3%

The company has a current ratio of 1.25, a quick ratio of 0.94 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $5.40 billion, a PE ratio of 16.51, a P/E/G ratio of 1.25 and a beta of 1.13. The stock’s fifty day simple moving average is $32.91 and its 200-day simple moving average is $33.77.

About Vontier

Vontier Corporation (NYSE:VNT) is a global industrial technology company that develops and provides solutions for the mobility, transportation and connected infrastructure markets. Its products and services help businesses manage fueling, fleet operations, vehicle maintenance, repair and diagnostics, and related workflows.

Vontier’s portfolio includes technologies for retail and commercial fueling, fuel measurement and environmental compliance, fleet tracking and telematics, automotive repair equipment, diagnostic tools and aftermarket services.