Fortive Corporation (NYSE:FTV) – Equities research analysts at SunTrust Banks lifted their Q3 2017 earnings estimates for shares of Fortive Corporation in a report released on Thursday. SunTrust Banks analyst C. Brady now anticipates that the technology company will post earnings per share of $0.74 for the quarter, up from their prior estimate of $0.73. SunTrust Banks also issued estimates for Fortive Corporation’s FY2017 earnings at $2.81 EPS, Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $0.80 EPS, FY2018 earnings at $3.08 EPS and FY2019 earnings at $3.29 EPS.
A number of other research analysts have also recently commented on FTV. Royal Bank Of Canada reissued a “hold” rating and issued a $70.00 price target on shares of Fortive Corporation in a report on Wednesday. Citigroup Inc. reissued a “neutral” rating and issued a $72.00 price target (up from $65.00) on shares of Fortive Corporation in a report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price target (up from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Tuesday, September 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $66.50.
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Shares of Fortive Corporation (FTV) opened at 72.89 on Friday. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $73.01. The company has a market capitalization of $25.30 billion, a PE ratio of 28.71 and a beta of 0.39. The stock’s 50 day moving average price is $70.30 and its 200 day moving average price is $70.30.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year.
Large investors have recently made changes to their positions in the stock. CENTRAL TRUST Co increased its holdings in shares of Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after purchasing an additional 23 shares during the period. Mirador Capital Partners LP increased its holdings in shares of Fortive Corporation by 0.4% in the second quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock valued at $404,000 after purchasing an additional 26 shares during the period. North Star Asset Management Inc. increased its holdings in shares of Fortive Corporation by 0.4% in the second quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock valued at $488,000 after purchasing an additional 32 shares during the period. Atria Investments LLC increased its holdings in shares of Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock valued at $289,000 after purchasing an additional 61 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Fortive Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 72 shares during the period. 78.59% of the stock is currently owned by institutional investors.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.10% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is 11.02%.
Fortive Corporation 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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