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Wall Street analysts expect Fortive Co. (NYSE: FTV) to report earnings per share (EPS) of $ 0.65 for the current quarter, Zacks investment research reports. Two analysts estimated Fortive’s earnings, with estimates ranging from $ 0.64 to $ 0.67. Fortive reported earnings per share of $ 0.94 in the same quarter last year, suggesting a negative growth rate of 30.9% year-over-year. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, October 28.
On average, analysts predict that Fortive will report annual earnings of $ 2.73 per share for the current year, with EPS estimates ranging from $ 2.70 to $ 2.76. For the next fiscal year, analysts expect the company to report earnings of $ 3.01 per share, with EPS estimates ranging from $ 2.96 to $ 3.09. Zacks Investment Research earnings per share averages are an average based on a survey of selling analysts who cover Fortive.
Fortive (NYSE: FTV) last released its quarterly earnings data on Thursday, July 29. The tech company reported EPS of $ 0.66 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.61 of $ 0.05. Fortive had a net margin of 29.84% and a return on equity of 12.15%. The company posted revenue of $ 1.32 billion in the quarter, compared to analysts’ estimates of $ 1.28 billion.
FTV has been the subject of several research reports. Morgan Stanley lowered its price target on Fortive shares from $ 81.00 to $ 78.00 and set an “equal weight” rating on the stock in a research note on Friday, July 30. Royal Bank of Canada reduced its target price on Fortive shares from $ 78.00 to $ 74.00 and established a “sector performance†rating for the company in a report released on Friday, July 30. Wells Fargo & Company assumed coverage of Fortive shares in a research report Thursday. They issued an “equal weight” rating and a price target of $ 72.00 for the company. Zacks investment research upgraded Fortive’s shares from a “hold†rating to a “buy†rating and set a price target of $ 75 for the company in a research report released on Tuesday, September 21. Finally, Wolfe Research upgraded Fortive’s shares from a “peer performance†rating to an “outperformance†rating and increased its target price for the stock from $ 81.00 to $ 84.00 in a year. research report on Monday July 12. Five equity research analysts rated the stock with a conservation rating and six gave the company a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy†and an average target price of $ 77.82.
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Actions of NYSE: FTV opened for $ 70.76 on Friday. The stock has a market cap of $ 25.36 billion, a PE ratio of 14.96 and a beta of 1.14. The company’s fifty-day moving average is $ 73.63 and its 200-day moving average is $ 71.98. Fortive has a 52 week low of $ 60.82 and a 52 week high of $ 76.51. The company has a quick ratio of 1.01, a current ratio of 1.20, and a debt ratio of 0.16.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 24. Investors of record on Friday, September 10 received a dividend of $ 0.07 per share. This represents a dividend of $ 0.28 on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Thursday, September 9. Fortive’s payout ratio is currently 13.40%.
In other Fortive news, SVP Peter C. Underwood sold 3,522 Fortive shares in a trade that took place on Friday August 6. The stock was sold for an average price of $ 74.27, for a total trade of $ 261,578.94. Following the sale, the Senior Vice-President now directly owns 42,889 shares of the company, valued at approximately $ 3,185,366.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the shares are currently held by insiders of the company.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Flossbach Von Storch AG strengthened its position in Fortive by 59.4% in the second quarter. Flossbach Von Storch AG now owns 9,130,156 shares of the technology company valued at $ 636,737,000 after acquiring an additional 3,403,593 shares in the last quarter. Viking Global Investors LP increased its holdings in Fortive by 40.5% during the first quarter. Viking Global Investors LP now owns 11,190,141 shares of the technology company valued at $ 790,472,000 after purchasing an additional 3,226,204 shares during the period. Balyasny Asset Management LLC purchased a new stake in Fortive shares during the second quarter valued at approximately $ 153,531,000. Findlay Park Partners LLP increased its position in Fortive by 266.4% during the second quarter. Findlay Park Partners LLP now owns 1,797,827 shares of the technology company valued at $ 125,380,000 after purchasing an additional 1,307,098 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Fortive shares by 223.6% during the first quarter. Renaissance Technologies LLC now owns 1,796,300 shares of the technology company valued at $ 126,891,000 after purchasing an additional 1,241,200 shares in the last quarter. Institutional investors hold 90.37% of the shares of the company.
About Fortive
Fortive Corp. is engaged in the design, development, manufacture and marketing of professional and technical products, software and services for a variety of end markets. It operates in the following segments: Intelligent Operating Solutions, Precision Technologies and Advanced Healthcare Solutions.
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