Seaport Res Ptn Comments on Fortive Co.’s Q3 2024 Earnings (NYSE:FTV)

Fortive Co. (NYSE:FTV) – Research analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share estimates for shares of Fortive in a research note issued on Wednesday, July 24th. Seaport Res Ptn analyst S. Graham now forecasts that the technology company will earn $0.92 per share for the quarter, down from their previous estimate of $0.96. The consensus estimate for Fortive’s current full-year earnings is $3.81 per share. Seaport Res Ptn also issued estimates for Fortive’s Q2 2025 earnings at $1.03 EPS.

Several other brokerages also recently issued reports on FTV. Royal Bank of Canada cut their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, July 25th. Citigroup cut their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Barclays cut their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Truist Financial lowered their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.91.

Fortive Trading Down 0.1 %

Shares of Fortive stock opened at $71.20 on Monday. The business has a fifty day simple moving average of $73.80 and a two-hundred day simple moving average of $78.43. Fortive has a 1 year low of $63.05 and a 1 year high of $87.10. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 2.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its position in Fortive by 7.8% in the fourth quarter. Raymond James & Associates now owns 308,593 shares of the technology company’s stock valued at $22,722,000 after acquiring an additional 22,308 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Fortive by 7.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 38,630 shares of the technology company’s stock valued at $2,844,000 after purchasing an additional 2,702 shares in the last quarter. Cutler Group LLC CA boosted its stake in shares of Fortive by 77.2% during the fourth quarter. Cutler Group LLC CA now owns 955 shares of the technology company’s stock valued at $70,000 after purchasing an additional 416 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Fortive by 17.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after purchasing an additional 167 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Fortive by 9.4% during the fourth quarter. Caprock Group LLC now owns 7,112 shares of the technology company’s stock valued at $524,000 after purchasing an additional 613 shares in the last quarter. Institutional investors own 94.94% 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.