SunTrust Banks Equities Analysts Raise Earnings Estimates for Fortive Corp (FTV)

Fortive Corp (NYSE:FTV) – Stock analysts at SunTrust Banks raised their Q1 2018 earnings estimates for Fortive in a report released on Monday. SunTrust Banks analyst C. Brady now forecasts that the technology company will earn $0.75 per share for the quarter, up from their prior estimate of $0.71. SunTrust Banks has a “Buy” rating and a $81.00 price objective on the stock. SunTrust Banks also issued estimates for Fortive’s Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.44 EPS, Q1 2019 earnings at $0.80 EPS, Q2 2019 earnings at $0.95 EPS, Q3 2019 earnings at $0.98 EPS, Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $3.71 EPS.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Fortive had a net margin of 15.69% and a return on equity of 30.54%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS.

Other equities analysts have also recently issued reports about the stock. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, January 3rd. UBS Group assumed coverage on shares of Fortive in a report on Monday, January 22nd. They issued a “buy” rating on the stock. BMO Capital Markets reissued a “buy” rating and issued a $88.00 price objective on shares of Fortive in a research note on Friday, January 26th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $79.00 price objective on shares of Fortive in a research note on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fortive presently has an average rating of “Hold” and a consensus price target of $75.50.

Fortive (NYSE FTV) opened at $74.14 on Wednesday. The company has a market cap of $25,841.54, a price-to-earnings ratio of 25.62, a PEG ratio of 2.08 and a beta of 0.51. Fortive has a 1-year low of $56.73 and a 1-year high of $76.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47.

Institutional investors and hedge funds have recently made changes to their positions in the business. APG Asset Management N.V. increased its stake in Fortive by 49.7% in the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after buying an additional 724,400 shares during the period. Toronto Dominion Bank boosted its position in shares of Fortive by 24.5% during the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock worth $6,598,000 after purchasing an additional 20,519 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fortive by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after purchasing an additional 273,003 shares in the last quarter. Park National Corp OH boosted its position in shares of Fortive by 72.9% during the 3rd quarter. Park National Corp OH now owns 46,309 shares of the technology company’s stock worth $3,278,000 after purchasing an additional 19,529 shares in the last quarter. Finally, Westpac Banking Corp boosted its position in shares of Fortive by 321.1% during the 4th quarter. Westpac Banking Corp now owns 84,842 shares of the technology company’s stock worth $6,138,000 after purchasing an additional 64,693 shares in the last quarter. 78.59% of the stock is currently owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 23rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 annualized dividend and a yield of 0.38%. Fortive’s dividend payout ratio is currently 9.46%.

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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.

Earnings History and Estimates for Fortive (NYSE:FTV)

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