Fortive (NYSE:FTV) Updates Q4 2024 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.110-1.140 for the period, compared to the consensus earnings per share estimate of 1.130. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion.

Fortive Trading Down 0.7 %

Shares of NYSE:FTV opened at $74.60 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $75.33 and its two-hundred day moving average is $74.59. The company has a market cap of $26.26 billion, a PE ratio of 29.49, a P/E/G ratio of 2.21 and a beta of 1.12. Fortive has a 52 week low of $64.28 and a 52 week high of $87.10.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley started coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.10.

Insider Transactions at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.