Fortive (NYSE:FTV) Updates Q4 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.11-1.14 for the period, compared to the consensus estimate of $1.13. The company issued revenue guidance of $1.63-1.65 billion, compared to the consensus revenue estimate of $1.66 billion. Fortive also updated its Q4 2024 guidance to 1.110-1.140 EPS.

Fortive Price Performance

Shares of NYSE FTV opened at $72.56 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. Fortive has a one year low of $64.44 and a one year high of $87.10. The firm has a market capitalization of $25.54 billion, a P/E ratio of 29.49, a PEG ratio of 2.21 and a beta of 1.12. The company’s fifty day moving average is $75.33 and its two-hundred day moving average is $74.59.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio is currently 12.65%.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of research reports. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Morgan Stanley initiated coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Wells Fargo & Company boosted their price target on Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays increased their price objective on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.10.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, 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 SEC, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, 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 currently owned by insiders.

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.