Fortive Corporation (NYSE:FTV) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.74-0.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.77.
A number of research firms have weighed in on FTV. SunTrust Banks, Inc. reissued a buy rating and set a $81.00 price objective on shares of Fortive Corporation in a report on Friday, October 27th. Citigroup Inc. raised their price objective on shares of Fortive Corporation from $72.00 to $74.00 and gave the stock a neutral rating in a report on Friday, October 27th. Stifel Nicolaus raised their price objective on shares of Fortive Corporation from $62.00 to $72.00 and gave the stock a hold rating in a report on Friday, October 27th. Royal Bank Of Canada reissued a hold rating and set a $70.00 price objective on shares of Fortive Corporation in a report on Wednesday, October 11th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $69.10.
Shares of Fortive Corporation (FTV) traded up $0.02 during midday trading on Friday, hitting $72.65. 1,825,200 shares of the company’s stock traded hands, compared to its average volume of 1,229,408. The stock has a market cap of $25,250.16, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.51 and a beta of 0.37. Fortive Corporation has a 52 week low of $52.99 and a 52 week high of $74.38. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.
Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the firm earned $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. equities research analysts forecast that Fortive Corporation will post 2.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a $0.07 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive Corporation’s dividend payout ratio is presently 10.57%.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. Insiders sold a total of 61,340 shares of company stock worth $4,437,021 over the last quarter. Insiders own 12.10% of the company’s stock.
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Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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