Fortive (NYSE:FTV) Updates Q4 2024 Earnings Guidance

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

Analysts Set New Price Targets

A number of brokerages have recently commented on FTV. Truist Financial lowered their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Barclays decreased their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.20.

Fortive Stock Performance

Fortive stock traded down $0.09 during trading hours on Friday, hitting $71.34. The stock had a trading volume of 3,333,953 shares, compared to its average volume of 1,908,120. Fortive has a fifty-two week low of $64.69 and a fifty-two week high of $87.10. The company has a market cap of $24.99 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. The company has a 50-day moving average of $75.31 and a two-hundred day moving average of $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 issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Fortive’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Fortive will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive’s payout ratio is currently 12.75%.

Insider Buying and Selling at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated 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 owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fortive 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 completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’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 sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.