Vontier (NYSE:VNT) Hits New 1-Year High on Strong Earnings

Key Points

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Vontier Corporation (NYSE:VNT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $41.98 and last traded at $41.40, with a volume of 493082 shares trading hands. The stock had previously closed at $39.74.

The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.72 by $0.07. The business had revenue of $773.50 million during the quarter, compared to analyst estimates of $734.23 million. Vontier had a net margin of 12.99% and a return on equity of 41.96%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share.

Vontier Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.10 annualized dividend and a dividend yield of 0.2%. Vontier's dividend payout ratio is currently 4.07%.

Analysts Set New Price Targets

VNT has been the subject of several recent research reports. Wall Street Zen upgraded shares of Vontier from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Barclays upped their price objective on shares of Vontier from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Vontier in a report on Thursday. Citigroup reaffirmed a "buy" rating and issued a $45.00 price objective (up previously from $37.00) on shares of Vontier in a report on Monday, July 14th. Finally, Evercore ISI upped their price objective on shares of Vontier from $45.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Vontier currently has an average rating of "Moderate Buy" and a consensus target price of $46.33.

Insiders Place Their Bets

In other Vontier news, SVP Kathryn K. Rowen sold 7,344 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $36.34, for a total value of $266,880.96. Following the completion of the sale, the senior vice president directly owned 88,248 shares of the company's stock, valued at approximately $3,206,932.32. This represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.97% of the company's stock.

Institutional Trading of Vontier

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group raised its holdings in Vontier by 586.2% during the 1st quarter. Brooklyn Investment Group now owns 844 shares of the company's stock worth $28,000 after buying an additional 721 shares during the period. Olde Wealth Management LLC acquired a new stake in Vontier during the 1st quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in Vontier by 75.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the company's stock worth $45,000 after buying an additional 529 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Vontier during the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new stake in Vontier during the 1st quarter worth about $64,000. Institutional investors and hedge funds own 95.83% of the company's stock.

Vontier Trading Down 2.7%

The company has a fifty day simple moving average of $37.44 and a 200-day simple moving average of $35.68. The company has a current ratio of 1.08, a quick ratio of 1.20 and a debt-to-equity ratio of 1.32. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.45 and a beta of 1.31.

About Vontier

Vontier Corporation provides mobility ecosystem solutions worldwide. The company operates through Mobility Technologies, Repair Solutions, and Environmental and Fueling Solutions segments. The Mobility Technologies segment provides digitally equipment solutions for mobility ecosystem, such as point-of-sale and payment systems, workflow automation, telematics, data analytics, software platform, and integrated solutions for alternative fuel dispensing.