Seaport Res Ptn Brokers Lower Earnings Estimates for Fortive

Fortive Co. (NYSE:FTV) – Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for Fortive in a report issued on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now forecasts that the technology company will post earnings of $3.84 per share for the year, down from their prior 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.

Other analysts have also issued reports about the stock. Barclays decreased their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company decreased 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. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.82.

Fortive Trading Up 0.7 %

Shares of Fortive stock opened at $75.00 on Wednesday. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.15 and a beta of 1.14. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The company’s fifty day simple moving average is $76.09 and its 200-day simple moving average is $74.43. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $0.85 EPS. The company’s revenue was up 2.7% on a year-over-year basis.

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently made changes to their positions in FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the third quarter worth $25,000. Ridgewood Investments LLC bought a new stake in shares of Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in Fortive during the second quarter valued at approximately $31,000. Finally, Pinnacle Bancorp Inc. increased its stake in Fortive by 71.0% in 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 in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were 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 owns 48,346 shares of the company’s stock, valued at $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 corporate insiders.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

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.