Fortive (NYSE:FTV) Announces Earnings Results

Fortive (NYSE:FTV) posted its quarterly earnings data on Wednesday. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04, Briefing.com reports. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Fortive updated its Q4 2024 guidance to 1.110-1.140 EPS and its Q4 guidance to $1.11-1.14 EPS.

Fortive Stock Performance

NYSE FTV traded up $0.39 on Friday, hitting $71.82. 587,598 shares of the company’s stock traded hands, compared to its average volume of 1,894,810. Fortive has a 1-year low of $64.69 and a 1-year high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25.16 billion, a PE ratio of 28.46, a P/E/G ratio of 2.09 and a beta of 1.12. The firm’s 50-day moving average price is $75.31 and its two-hundred day moving average price is $74.55.

Fortive Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive’s dividend payout ratio is currently 12.75%.

Insider Activity

In related news, 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 value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. 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 the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred on 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 in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FTV shares. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Barclays reduced their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.30.

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.