FY2024 EPS Estimates for Fortive Lowered by Seaport Res Ptn

Fortive Co. (NYSE:FTV) – Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for Fortive in a research report issued to clients and investors on Monday, December 23rd. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings per share of $3.84 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 the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS.

Several other brokerages have also commented on FTV. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, Barclays reduced their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.82.

Fortive Price Performance

Shares of FTV opened at $75.80 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm has a market cap of $26.30 billion, a PE ratio of 30.20, a PEG ratio of 2.15 and a beta of 1.14. The firm’s 50 day moving average price is $75.97 and its 200 day moving average price is $74.46. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10.

Institutional Investors Weigh In On Fortive

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in shares of Fortive by 3.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after buying an additional 135 shares in the last quarter. Patton Albertson Miller Group LLC grew its position in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after acquiring an additional 150 shares during the period. Andina Capital Management LLC raised its stake in Fortive by 3.4% during the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after acquiring an additional 152 shares in the last quarter. Axiom Advisory LLC lifted its holdings in shares of Fortive by 1.6% during the third quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock valued at $734,000 after acquiring an additional 157 shares during the period. Finally, Mill Creek Capital Advisors LLC boosted its holdings in shares of Fortive by 4.7% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock worth $270,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

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

Fortive Announces Dividend

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

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.