SunTrust Banks Equities Analysts Increase Earnings Estimates for Fortive Corporation (FTV)
Fortive Corporation (NYSE:FTV) – Investment analysts at SunTrust Banks raised their FY2017 EPS estimates for Fortive Corporation in a research note issued to investors on Friday. SunTrust Banks analyst C. Brady now forecasts that the technology company will earn $2.85 per share for the year, up from their prior estimate of $2.81. SunTrust Banks has a “Buy” rating and a $81.00 price target on the stock. SunTrust Banks also issued estimates for Fortive Corporation’s Q4 2017 earnings at $0.77 EPS, Q1 2018 earnings at $0.71 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.19 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.91 EPS and FY2019 earnings at $3.46 EPS.
FTV has been the subject of several other reports. Zacks Investment Research raised Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 26th. Royal Bank Of Canada reissued a “hold” rating and set a $70.00 target price on shares of Fortive Corporation in a research note on Wednesday, October 11th. Citigroup Inc. reissued a “neutral” rating and set a $72.00 target price (up from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Morgan Stanley reissued an “equal weight” rating and set a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. 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 an average rating of “Hold” and an average target price of $69.10.
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Fortive Corporation (FTV) opened at 74.10 on Monday. The company’s 50-day moving average price is $70.93 and its 200 day moving average price is $65.52. Fortive Corporation has a 12 month low of $49.73 and a 12 month high of $74.38. The stock has a market capitalization of $25.72 billion, a PE ratio of 29.18 and a beta of 0.37.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. Fortive Corporation’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in FTV. Jacobi Capital Management LLC grew its holdings in Fortive Corporation by 25.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in Fortive Corporation during the 2nd quarter valued at $128,000. Westwood Holdings Group Inc. acquired a new stake in Fortive Corporation during the 2nd quarter valued at $139,000. Sun Life Financial INC grew its holdings in Fortive Corporation by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after buying an additional 2,194 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Fortive Corporation by 1.0% during the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
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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