Seaport Res Ptn Decreases Earnings Estimates for Fortive

Fortive Co. (NYSE:FTV) – Analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of Fortive in a report released on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will earn $3.84 per share 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) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year.

A number of other analysts have also recently weighed in on FTV. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Wells Fargo & Company dropped their target price on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial increased their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.82.

Fortive Stock Performance

Shares of NYSE FTV opened at $75.80 on Wednesday. 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 firm’s 50-day moving average price is $75.97 and its two-hundred day moving average price is $74.46. Fortive has a 52-week low of $66.15 and a 52-week high of $87.10. The stock has a market capitalization of $26.30 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.15 and a beta of 1.14.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s payout ratio is 12.75%.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates raised its stake in Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the period. Atomi Financial Group Inc. raised its position in Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after buying an additional 226 shares during the period. Versor Investments LP purchased a new stake in Fortive in the 2nd quarter worth about $749,000. XTX Topco Ltd acquired a new stake in Fortive during the 3rd quarter worth about $1,346,000. Finally, Principal Financial Group Inc. boosted its position in Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares during the period. 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.