Brokers Set Expectations for Fortive Co.’s Q3 2024 Earnings (NYSE:FTV)

Fortive Co. (NYSE:FTV) – Investment analysts at Seaport Res Ptn raised 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 anticipates that the technology company will post earnings of $0.96 per share for the quarter, up from their prior estimate of $0.95. The consensus estimate for Fortive’s current full-year earnings is $3.80 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) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays raised their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company dropped their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

Fortive Price Performance

Shares of NYSE FTV opened at $75.97 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75. Fortive has a 1-year low of $62.77 and a 1-year high of $87.10. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.31 and a beta of 1.13. The business has a 50-day moving average of $83.83 and a 200-day moving average of $76.13.

Institutional Trading of Fortive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive in the 1st quarter worth $26,000. OFI Invest Asset Management acquired a new position in Fortive during the third quarter worth about $25,000. Cornerstone Planning Group LLC acquired a new position in Fortive during the third quarter worth about $28,000. Cetera Trust Company N.A bought a new stake in Fortive in the fourth quarter worth about $28,000. Finally, First Command Advisory Services Inc. acquired a new stake in Fortive in the 3rd quarter valued at about $30,000. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by insiders.

Fortive Dividend Announcement

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

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.