Fortive (NYSE:FTV) Releases Q2 2024 Earnings Guidance

Fortive (NYSE:FTV) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.900-0.930 for the period, compared to the consensus estimate of 0.940. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Fortive also updated its FY 2024 guidance to 3.770-3.860 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price target on Fortive from $70.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, February 1st. Citigroup lowered their price target on Fortive from $101.00 to $98.00 and set a buy rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price target on Fortive from $92.00 to $84.00 and set an equal weight rating for the company in a research report on Thursday. Vertical Research lowered Fortive from a buy rating to a hold rating in a research report on Tuesday, January 2nd. Finally, Barclays increased their target price on Fortive from $89.00 to $97.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of Moderate Buy and an average price target of $86.46.

Fortive Stock Down 0.2 %

FTV stock traded down $0.18 on Friday, reaching $76.03. 734,727 shares of the company traded hands, compared to its average volume of 1,675,138. Fortive has a one year low of $62.77 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75. The company has a market cap of $26.76 billion, a P/E ratio of 30.12, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The firm has a fifty day simple moving average of $84.00 and a 200-day simple moving average of $76.13.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Research analysts anticipate that Fortive will post 3.79 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock valued at $5,475,122 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.

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.