FY2024 EPS Estimates for Fortive Raised by Seaport Res Ptn

Fortive Co. (NYSE:FTV) – Research analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for shares of Fortive in a research note issued to investors on Wednesday, October 30th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will post earnings per share of $3.85 for the year, up from their previous estimate of $3.80. The consensus estimate for Fortive’s current full-year earnings is $3.85 per share. Seaport Res Ptn also issued estimates for Fortive’s Q1 2026 earnings at $1.02 EPS, Q2 2026 earnings at $1.13 EPS, Q3 2026 earnings at $1.13 EPS and FY2026 earnings at $4.56 EPS.

Fortive (NYSE:FTV) last posted 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 return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis.

Other research analysts have also recently issued reports about the stock. Morgan Stanley initiated coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Royal Bank of Canada dropped their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, Truist Financial reduced their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.20.

Fortive Price Performance

Shares of Fortive stock opened at $71.34 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth 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 company has a 50-day simple moving average of $75.27 and a two-hundred day simple moving average of $74.43.

Fortive Dividend Announcement

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

Insider Activity at Fortive

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

Institutional Investors Weigh In On Fortive

A number of institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Fortive in the third quarter valued at approximately $25,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the first quarter worth $32,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive during the second quarter worth $30,000. International Assets Investment Management LLC bought a new position in Fortive during the second quarter worth $30,000. Finally, Goodman Advisory Group LLC acquired a new position in Fortive in the second quarter valued at $31,000. Institutional investors own 94.94% of the company’s stock.

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.