Q2 2024 EPS Estimates for Fortive Co. (NYSE:FTV) Lowered by Seaport Res Ptn

Fortive Co. (NYSE:FTV) – Research analysts at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for shares of Fortive in a research report issued to clients and investors on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will post earnings per share of $0.91 for the quarter, down from their prior 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.

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

Several other analysts have also weighed in on the company. Mizuho lifted their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Wells Fargo & Company cut their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada reduced their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive Trading Down 2.2 %

Fortive stock opened at $75.27 on Monday. The company 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 has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. Fortive has a one year low of $62.97 and a one year high of $87.10. The company’s fifty day moving average price is $83.52 and its two-hundred day moving average price is $76.14.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in Fortive during the 3rd quarter valued at $25,000. Indiana Trust & Investment Management CO bought a new position in shares of Fortive in the first quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fortive during the 3rd quarter worth about $28,000. Cetera Trust Company N.A acquired a new stake in shares of Fortive during the 4th quarter worth about $28,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Fortive during the 3rd quarter worth about $30,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortive

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’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 transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is owned by insiders.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is 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.