Analysts forecast that Fortive Corporation (NYSE:FTV) will announce sales of $1.65 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Fortive Corporation’s earnings, with estimates ranging from $1.63 billion to $1.68 billion. Fortive Corporation reported sales of $1.57 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Fortive Corporation will report full-year sales of $1.65 billion for the current fiscal year, with estimates ranging from $6.46 billion to $6.57 billion. For the next financial year, analysts forecast that the company will report sales of $6.89 billion per share, with estimates ranging from $6.71 billion to $7.07 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Fortive Corporation.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS.
Several equities analysts have recently issued reports on FTV shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 price target (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $61.00.
Fortive Corporation (NYSE FTV) traded up 0.96% during midday trading on Tuesday, hitting $67.17. The stock had a trading volume of 1,117,712 shares. The stock’s 50-day moving average is $63.82 and its 200-day moving average is $60.68. The company has a market cap of $23.31 billion, a P/E ratio of 26.46 and a beta of 0.23. Fortive Corporation has a one year low of $46.81 and a one year high of $67.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s payout ratio is presently 11.02%.
In related news, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Raj Ratnakar sold 11,642 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the transaction, the vice president now directly owns 5,020 shares of the company’s stock, valued at $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of Fortive Corporation by 121.2% in the fourth quarter. Teachers Advisors LLC now owns 763,381 shares of the technology company’s stock worth $40,940,000 after buying an additional 418,215 shares during the last quarter. Kentucky Retirement Systems bought a new position in shares of Fortive Corporation during the fourth quarter worth $1,171,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Fortive Corporation during the fourth quarter worth $522,000. Pensionfund Sabic bought a new position in shares of Fortive Corporation during the first quarter worth $1,692,000. Finally, Pensionfund DSM Netherlands bought a new position in shares of Fortive Corporation during the first quarter worth $3,372,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
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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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