Seaport Res Ptn Has Negative View of Fortive FY2024 Earnings

Fortive Co. (NYSE:FTV - Free Report) - Research analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for Fortive in a research note issued on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now anticipates 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share.

FTV has been the topic of several other research reports. Mizuho raised shares of Fortive from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Morgan Stanley began coverage on Fortive in a research report on Friday, September 6th. They issued an "overweight" rating and a $89.00 target price for the company. Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Barclays dropped their target price on Fortive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Finally, Royal Bank of Canada cut their price target on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.82.

Fortive Price Performance

NYSE FTV traded up $0.54 on Wednesday, reaching $75.00. 654,960 shares of the stock traded hands, compared to its average volume of 2,042,049. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 2.15 and a beta of 1.14. The firm's fifty day simple moving average is $76.05 and its 200 day simple moving average is $74.44. Fortive has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive's dividend payout ratio is currently 12.75%.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company's stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company's 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 approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Institutional Trading of Fortive

Several hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter valued at $25,000. Ridgewood Investments LLC acquired a new position in Fortive during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive during the 2nd quarter worth about $31,000. Finally, Pinnacle Bancorp Inc. boosted its position in Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock valued at $33,000 after purchasing an additional 176 shares during the last quarter. 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.