Fortive (NYSE:FTV) Releases FY 2024 Earnings Guidance

Fortive (NYSE:FTV - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 3.840-3.870 for the period, compared to the consensus EPS estimate of 3.810. The company issued revenue guidance of $6.2 billion-$6.3 billion, compared to the consensus revenue estimate of $6.3 billion.

Fortive Price Performance

Shares of FTV traded down $0.09 during mid-day trading on Friday, reaching $71.34. The company had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,123. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95. The company has a market capitalization of $24.99 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.09 and a beta of 1.12. Fortive has a twelve month low of $64.69 and a twelve month high of $87.10. The company's 50-day moving average is $75.27 and its 200-day moving average is $74.48.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the business earned $0.85 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Fortive will post 3.85 EPS for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive's dividend payout ratio (DPR) is presently 12.75%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FTV. Royal Bank of Canada cut their target price on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating for the company in a research note on Thursday. Morgan Stanley started coverage on Fortive in a research note on Friday, September 6th. They issued an "overweight" rating and a $89.00 price objective on the stock. Wolfe Research lowered Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Raymond James upgraded shares of 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.20.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Fortive 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 transaction, the chief financial officer now owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm'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 transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

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.