Seaport Res Ptn Reduces Earnings Estimates for Fortive

Fortive Co. (NYSE:FTV) – Seaport Res Ptn cut their FY2024 EPS estimates for Fortive in a research report issued 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 released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share.

FTV has been the topic of several other research reports. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. UBS Group initiated coverage on Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Royal Bank of Canada cut their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.82.

Fortive Price Performance

NYSE FTV opened at $75.00 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 company has a market cap of $26.02 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. Fortive has a 52 week low of $66.15 and a 52 week high of $87.10. The firm’s 50-day simple moving average is $76.05 and its two-hundred day simple moving average is $74.44.

Fortive Dividend Announcement

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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % 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.

Institutional Trading of Fortive

Institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC purchased a new stake in shares of Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in shares of Fortive during the second quarter valued at approximately $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive in the second quarter worth approximately $31,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 176 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.