Seaport Res Ptn Reduces Earnings Estimates for Fortive

Fortive Co. (NYSE:FTV) – Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Fortive in a report issued on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings per share of $3.84 for the year, down from their previous estimate of $3.85. The consensus estimate for Fortive’s current full-year earnings is $3.85 per share. Seaport Res Ptn also issued estimates for Fortive’s Q4 2025 earnings at $1.18 EPS.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on FTV. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and a consensus target price of $86.82.

Fortive Trading Up 0.7 %

Shares of Fortive stock opened at $75.00 on Wednesday. The business has a fifty day simple moving average of $76.09 and a 200-day simple moving average of $74.43. Fortive has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market cap of $26.02 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fortive

Several institutional investors and hedge funds have recently modified their holdings of FTV. Geode Capital Management LLC raised its holdings in Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after buying an additional 46,704 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after purchasing an additional 103,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Fortive by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.