Fortive (NYSE:FTV) Issues Earnings Results, Beats Expectations By $0.04 EPS

Fortive (NYSE:FTV) posted its quarterly earnings results on Wednesday. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04, Briefing.com reports. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. Fortive updated its Q4 2024 guidance to 1.110-1.140 EPS and its Q4 guidance to $1.11-1.14 EPS.

Fortive Stock Down 0.9 %

NYSE FTV traded down $0.66 during trading hours on Thursday, hitting $71.43. The company had a trading volume of 3,174,400 shares, compared to its average volume of 1,901,359. The firm’s 50 day moving average is $75.33 and its 200 day moving average is $74.57. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 2.21 and a beta of 1.12. Fortive has a fifty-two week low of $64.44 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.45%. Fortive’s dividend payout ratio is currently 12.65%.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was 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 this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTV. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Truist Financial boosted their price objective on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.30.

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.