FY2024 EPS Estimates for Fortive Boosted by Seaport Res Ptn

Fortive Co. (NYSE:FTV - Free Report) - Research analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Fortive in a report issued on Wednesday, October 30th. Seaport Res Ptn analyst S. Graham now expects that the technology company will earn $3.85 per share for the year, up from their prior forecast of $3.80. The consensus estimate for Fortive's current full-year earnings is $3.85 per share. Seaport Res Ptn also issued estimates for Fortive's Q1 2026 earnings at $1.02 EPS, Q2 2026 earnings at $1.13 EPS, Q3 2026 earnings at $1.13 EPS and FY2026 earnings at $4.56 EPS.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.85 earnings per share. The company's revenue for the quarter was up 2.7% on a year-over-year basis.

A number of other analysts have also recently commented on FTV. Raymond James upgraded Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Wolfe Research cut Fortive from an "outperform" rating to a "peer perform" rating in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded Fortive from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. TD Cowen upgraded Fortive from a "hold" rating to a "buy" rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Wells Fargo & Company decreased their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.20.

Fortive Price Performance

Fortive stock traded down $0.09 during midday trading on Friday, reaching $71.34. The company's stock had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,123. The firm has a market capitalization of $24.99 billion, a PE ratio of 28.42, a P/E/G ratio of 2.09 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.25. Fortive has a fifty-two week low of $64.69 and a fifty-two week high of $87.10. The stock's 50 day simple moving average is $75.31 and its 200 day simple moving average is $74.55.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive's dividend payout ratio is 12.75%.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

Hedge Funds Weigh In On Fortive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Fortive during the 3rd quarter valued at $25,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the first quarter worth $32,000. Ridgewood Investments LLC bought a new position in Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC bought a new position in Fortive during the second quarter worth about $30,000. Finally, Goodman Advisory Group LLC bought a new position in Fortive during the second quarter worth about $31,000. Institutional investors own 94.94% of the company's stock.

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.