Fortive Corporation (FTV) Expected to Post Earnings of $0.78 Per Share
Equities analysts expect Fortive Corporation (NYSE:FTV) to post earnings of $0.78 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Fortive’s earnings, with estimates ranging from $0.77 to $0.79. Fortive posted earnings of $0.68 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 14.7%. The firm is scheduled to announce its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Fortive will report full-year earnings of $2.85 per share for the current fiscal year, with EPS estimates ranging from $2.81 to $2.87. For the next year, analysts anticipate that the business will report earnings of $3.20 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Fortive.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis.
Fortive (NYSE FTV) traded up $0.09 during mid-day trading on Friday, reaching $73.69. 1,000,500 shares of the company’s stock were exchanged, compared to its average volume of 1,346,568. 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 has a 52 week low of $52.99 and a 52 week high of $75.69. The stock has a market capitalization of $25,472.60, a price-to-earnings ratio of 26.55, a PEG ratio of 2.53 and a beta of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive’s payout ratio is presently 10.57%.
In other news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the completion of the sale, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Fortive by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock valued at $1,305,909,000 after purchasing an additional 620,784 shares in the last quarter. BlackRock Inc. lifted its stake in Fortive by 11.7% in the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after acquiring an additional 1,934,309 shares in the last quarter. Capital World Investors lifted its stake in Fortive by 37.9% in the 2nd quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after acquiring an additional 2,701,496 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Fortive by 41.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after acquiring an additional 971,997 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Fortive by 13.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,370,300 shares of the technology company’s stock valued at $150,158,000 after acquiring an additional 283,550 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.
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Fortive 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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