$1.76 Billion in Sales Expected for Fortive Corp (FTV) This Quarter
Wall Street analysts expect Fortive Corp (NYSE:FTV) to post sales of $1.76 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Fortive’s earnings, with estimates ranging from $1.75 billion to $1.77 billion. Fortive reported sales of $1.81 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The business is expected to issue its next quarterly earnings results on Thursday, February 14th.
According to Zacks, analysts expect that Fortive will report full year sales of $7.20 billion for the current financial year, with estimates ranging from $7.19 billion to $7.22 billion. For the next year, analysts forecast that the business will post sales of $7.22 billion, with estimates ranging from $6.94 billion to $7.70 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Fortive.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Fortive had a net margin of 15.72% and a return on equity of 24.91%.
In related news, insider William W. Pringle sold 476 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $73.18, for a total value of $34,833.68. Following the completion of the transaction, the insider now directly owns 28,639 shares of the company’s stock, valued at $2,095,802.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 468 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $75.26, for a total transaction of $35,221.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,382 shares of company stock valued at $10,729,598. 12.10% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI raised its stake in Fortive by 1.6% in the second quarter. Parsons Capital Management Inc. RI now owns 42,383 shares of the technology company’s stock worth $3,268,000 after buying an additional 650 shares in the last quarter. State Treasurer State of Michigan raised its stake in Fortive by 0.8% in the second quarter. State Treasurer State of Michigan now owns 90,819 shares of the technology company’s stock worth $7,003,000 after buying an additional 700 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC raised its stake in Fortive by 0.8% in the third quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 91,301 shares of the technology company’s stock worth $7,688,000 after buying an additional 711 shares in the last quarter. Zions Bancorporation raised its stake in Fortive by 17.5% in the second quarter. Zions Bancorporation now owns 4,787 shares of the technology company’s stock worth $369,000 after buying an additional 713 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Fortive by 1.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 72,362 shares of the technology company’s stock valued at $6,093,000 after purchasing an additional 733 shares in the last quarter.
Shares of NYSE:FTV traded down $0.71 during midday trading on Friday, hitting $72.14. 2,989,200 shares of the stock traded hands, compared to its average volume of 3,014,194. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. Fortive has a one year low of $69.03 and a one year high of $88.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 29th. Fortive’s payout ratio is currently 9.69%.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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