Fortive (NYSE:FTV) Releases Q4 2024 Earnings Guidance

Fortive (NYSE:FTV) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.110-1.140 for the period, compared to the consensus 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.

Analyst Ratings Changes

FTV has been the topic of several analyst reports. 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. Barclays cut their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Finally, TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.20.

Fortive Price Performance

NYSE:FTV traded down $0.09 during trading hours on Friday, reaching $71.34. 3,333,953 shares of the company’s stock were exchanged, compared to its average volume of 1,908,120. The company has a market capitalization of $24.99 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. Fortive has a 12 month low of $64.69 and a 12 month high of $87.10. The business’s 50-day simple moving average is $75.31 and its two-hundred day simple moving average is $74.55. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings data 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 business had revenue of $1.53 billion during 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 company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. Sell-side analysts expect that Fortive will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

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

Insider Activity

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the 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 completion of 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal 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 company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. 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.