Fortive (NYSE:FTV) Issues Q4 2024 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.110-1.140 for the period, compared to the consensus EPS estimate of 1.130. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Fortive also updated its Q4 guidance to $1.11-1.14 EPS.

Fortive Stock Performance

Shares of FTV stock traded down $0.09 during trading hours on Friday, hitting $71.34. The stock had a trading volume of 3,331,649 shares, compared to its average volume of 1,908,110. The firm has a market capitalization of $24.99 billion, a PE ratio of 28.63, a PEG ratio of 2.09 and a beta of 1.12. Fortive has a twelve month low of $64.69 and a twelve month high of $87.10. The stock’s 50 day moving average is $75.31 and its 200 day moving average is $74.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, research analysts forecast that Fortive will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analysts Set New Price Targets

Several research firms have recently commented on FTV. Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Truist Financial cut their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.20.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% 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.