Q3 2024 Earnings Forecast for Fortive Co. (NYSE:FTV) Issued By Seaport Res Ptn

Fortive Co. (NYSE:FTV - Free Report) - Investment analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of Fortive in a research note issued on Thursday, April 25th. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings of $0.96 per share for the quarter, up from their previous forecast of $0.95. The consensus estimate for Fortive's current full-year earnings is $3.79 per share. Seaport Res Ptn also issued estimates for Fortive's Q4 2024 earnings at $1.11 EPS, FY2024 earnings at $3.79 EPS and Q1 2025 earnings at $0.90 EPS.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%.

FTV has been the topic of several other reports. Truist Financial initiated coverage on Fortive in a report on Thursday, March 14th. They set a "buy" rating and a $99.00 target price on the stock. Royal Bank of Canada lowered their price objective on Fortive from $93.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut Fortive from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Citigroup lowered their price target on Fortive from $101.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Barclays upped their price objective on Fortive from $89.00 to $97.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Fortive currently has an average rating of "Moderate Buy" and a consensus price target of $86.46.

Fortive Stock Down 0.3 %

Shares of FTV stock traded down $0.24 on Friday, hitting $75.97. 1,591,925 shares of the stock were exchanged, compared to its average volume of 1,690,241. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $26.74 billion, a P/E ratio of 30.12, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The business has a 50-day moving average of $84.00 and a 200 day moving average of $76.13. Fortive has a fifty-two week low of $62.77 and a fifty-two week high of $87.10.

Institutional Investors Weigh In On Fortive

Several large investors have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Fortive during the third quarter worth about $25,000. Indiana Trust & Investment Management CO bought a new stake in Fortive during the 1st quarter worth approximately $26,000. Cornerstone Planning Group LLC bought a new position in shares of Fortive in the 3rd quarter worth $28,000. Cetera Trust Company N.A bought a new position in shares of Fortive in the 4th quarter worth $28,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Fortive during the 3rd quarter valued at $30,000. Institutional investors own 94.94% of the company's stock.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. 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 40,837 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares of the company's stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Christopher M. Mulhall sold 8,994 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,937 shares of company stock valued at $5,475,122. Insiders own 0.95% of the company's stock.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive's dividend payout ratio is presently 12.65%.

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.