Wall Street analysts expect that Fortive Co. (NYSE:FTV) will post sales of $1.43 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Fortive’s earnings, with estimates ranging from $1.42 billion to $1.44 billion. Fortive reported sales of $1.32 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The business is expected to issue its next earnings results on Thursday, February 3rd.
According to Zacks, analysts expect that Fortive will report full year sales of $5.31 billion for the current financial year, with estimates ranging from $5.30 billion to $5.32 billion. For the next financial year, analysts expect that the company will report sales of $5.67 billion, with estimates ranging from $5.63 billion to $5.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fortive.
Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, October 28th. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Fortive had a return on equity of 10.53% and a net margin of 31.85%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company posted $0.94 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis.
Shares of NYSE FTV traded down $0.27 during midday trading on Thursday, reaching $78.03. 1,820,306 shares of the company were exchanged, compared to its average volume of 2,351,244. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. Fortive has a 1 year low of $64.58 and a 1 year high of $79.87. The stock has a fifty day simple moving average of $74.73 and a 200 day simple moving average of $72.92. The stock has a market cap of $27.98 billion, a P/E ratio of 17.19, a PEG ratio of 19.28 and a beta of 1.15.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Friday, November 26th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s payout ratio is 6.17%.
In other news, SVP Peter C. Underwood sold 6,575 shares of Fortive stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $76.99, for a total transaction of $506,209.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of FTV. Schonfeld Strategic Advisors LLC acquired a new position in Fortive in the 1st quarter valued at $2,801,000. Parkwood LLC acquired a new position in Fortive in the 2nd quarter valued at $3,985,000. Defender Capital LLC. raised its holdings in Fortive by 33.1% in the 2nd quarter. Defender Capital LLC. now owns 391,001 shares of the technology company’s stock valued at $27,267,000 after acquiring an additional 97,337 shares during the last quarter. Flossbach Von Storch AG raised its holdings in Fortive by 59.4% in the 2nd quarter. Flossbach Von Storch AG now owns 9,130,156 shares of the technology company’s stock valued at $636,737,000 after acquiring an additional 3,403,593 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Fortive by 73.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 57,728 shares of the technology company’s stock valued at $4,026,000 after acquiring an additional 24,470 shares during the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.
Fortive Company Profile
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.
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